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On their intensive margins, firms in the British engineering industry adjusted to the severe falls in demand during the 1930s Depression by cutting hours of work.
The shrinkage of world trade may continue for some time, as recession-induced falls in demand are intensified by protectionist policies aimed at shoring up local industries.
The spreading global recession means that 2008 and 2009 are likely to witness the first back-to-back falls in demand for oil since the early 1980s.
With the Olympic Games taking place, a net balance of 9% more surveyors reported falls in demand, compared to 4% more in July, Rics said.
For corporate lending, the Bank said its survey showed that following "significant falls" in demand from small and medium-sized businesses in the final three months of 2016, there were further falls in demand for lending from medium-sized businesses in the opening months of 2017.
To give a sense of the scale, global luxury watch sales have seen double digit falls in demand from China and Hong Kong, two of the top markets, since Xi took office.
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It blamed a sudden and "remarkable" fall in demand from the telecoms and computing industries, and said it saw no end to the slowdown.
The final episode of Breaking Bad (Netflix, from Monday) is driven by artistic logic – not least the fact that the central character was declared terminally ill five seasons back – rather than fall in demand.
High: Given your ability to see which topics are rising or falling in demand among students of Coursera, what conclusions have you drawn?
Since old skillsets are falling in demand, this brings a painful reality of the declining nature of work that the human workforce is used to.
Kiribati's economy is weak and is affected by rises and falls in the world demand for coconut.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com