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It has merely amplified economic ailments that are now intensifying: vanishing paychecks, falling home prices and diminished spending.
Sales were down in the United States, Europe, Asia, the Middle East and Africa, and analysts blamed lower consumer confidence and diminished spending.
More broadly, if China's exports slow as a result of diminished spending in the United States, that could cool the exuberant wave of real estate development remaking China's cities.
This is the long-hoped-for "rebalancing" that would see exporters playing a stronger role in generating growth, helping to offset the diminished spending power of debt-burdened consumers, instead of trade acting as a drag on the economy as it has for over a decade.
The dismal fiscal report comes despite an April of diminished spending, with a disbursement total of $5,738,571.28, about $1.5 million less than any of the previous six months.
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Why do we have to replace equipment?' " As orders dry up, layoffs accelerate, further diminishing spending power and further reducing business in a downward spiral.
The number of bullfights taking place at local fiestas has diminished as spending cuts have been enforced.
Agriculture Minister Mario Catania said in an interview that the economic crisis had sharply diminished public spending, meaning that "there are no resources to put on the table" for female farmers.
General Manager Omar Minaya defended the Mets' 2009 strategy, saying that not having a first-round pick diminished their spending and that they were committed to paying for top amateur talent.
It diminished public spending dramatically, taxed citizens, and cut pensions.
In Nigeria, diminished government spending combined with rampant corruption discredited the government of President Goodluck Jonathan and helped fuel a vicious insurgency by Boko Haram, prompting Nigerian voters to abandon him in the most recent election and install a former military ruler, Muhammadu Buhari, in his place.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com