The developing countries are either in recession or about to experience a contraction, while, with the exception of Japan, the industrialized countries are still performing well.
World trade suffered another disappointing year in 2015, experiencing a contraction in merchandise trade during the first half and only low growth during the second half.
And while the market is certainly experiencing a contraction from the spectacle of just a few years prior, overall the sales were solid and steady, though a touch subdued.
During the crisis, the eurozone was in mild recession, while the periphery experienced a serious contraction.
To be sure, Silicon Valley experienced a huge contraction as well, but it was not nearly as extreme as what happened on the East Coast.
Like other technology consultants, Cap Gemini has experienced a sharp contraction in revenue in the last year, made worse by the newfound emphasis on United States business after the Ernst & Young deal, which brought to one-third the share of its revenue derived there.
Most other developed economies have experienced a similar contraction of their industrial sectors, but even so we are well behind the developed economy average of 24%.
Agri-food trade experienced a severe contraction, in both volume and especially in value, due to the fall in its relative prices (Ocampo and Parra-Lancourt 2010).
