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Most government departments will shrink by a quarter, though Mr Osborne excluded the National Health Service from his savagery.

Over the coming decade the region's working-age population, which until now has been rising slowly, will shrink by some 0. 3% a year.

Battered by recession in the United States, the economy is set to shrink by up to 7% this year.

The bank predicts that the GDP of Malaysia and Cambodia will shrink by 1% and Thailand's economy will shrivel by 2. 7%.

In 1998 Indonesia, Malaysia, South Korea and Thailand saw their real GDP per head shrink by an average of 11%.

WTO economists predict world trade will shrink by 10 percent this year - something which has not happened since World War II.

The fund said that growth had come to "a virtual halt, " with developed economies expected to shrink by 2 percent in 2009.

The Bank of Spain thinks GDP will shrink by 3% this year and another 1% in 2010.

The IMF forecasts that GDP will shrink by 4. 4% this year, less than in Germany but more than in Britain, France and Spain.

Mexico, which exports more than 21% of its GDP to the US, is expected to shrink by 7% this year.

The European Commission reckons its economy will shrink by 1. 4% this year, which is not a lot by the dismal standards of the region.

The hardest-hit industry would be metals, but even that would shrink by only 1. 5%.

It forecasts Britain's economy will shrink by 3. 7% - the worst performance since the second world war.

Overall, the US economy is expected to shrink by more than two percent this year, compared to a modest 1. 1 percent growth in 2008.

Dragonomics forecasts that in 2008 the contribution of net exports to China's growth will shrink by half.

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The Hungarian government has predicted that the country's economy will shrink by 6 per cent this year.

By 2055, the total population will shrink by around 30%.

Investment will shrink by 6% in 2009 as firms scale down their investment plans in line with lower domestic and overseas sales.

It may shrink by less than others as a result.

He says that with unemployment set to jump and the economy set to shrink by, say, 5. 7% this year, households will bring yen home.

They have seen increased regulation come and drive out businesses, watching their economies shrink by as much as 75 per cent in 20 years.

Meanwhile, the International Monetary Fund forecasts that the global economy will shrink by 0. 5 per cent to 1 per cent this year.

Those CEOS, along with the top 50 executives, will see their bonus pools shrink by about 40% from 2007 levels.

In the latest and darkest official forecast, the OECD said this week that it expected the world economy to shrink by 2. 7% in 2009.

A new report from Bain &Company, a consultancy, predicts that the luxury-goods market may shrink by 3-7% during 2009.

Its new report predicts the economies of its 30-member states will shrink by 4. 1 percent this year.

Germany has revised downward its prediction its economy will shrink by 2. 25 percent this year.

The European Commission and the International Monetary Fund both now estimate that in 2009 Italy's GDP will shrink by 4. 4%.

Overall, the bloc's economy will shrink by four percent in 2009.

The economy is forecast to shrink by around 8% this year.

After a decade of oil-fired growth, GDP will shrink by 8% this year.

Overall, global GDP is likely to shrink by 2. 9% this year and world trade flows by 10%.

The IMF's latest World Economic Outlook expects global output to shrink by 1. 3% this year, its first fall in 60 years.

Russian stockmarkets fell further when the World Bank forecast Russia's economy would shrink by 7. 9% this year.

Gartner, a market-research firm, reckons global handset sales will shrink by around 4% to 1. 2 billion units.

Depending on the price of oil, it could shrink by 5% or even 10% of GDP.

China's population, currently the world's biggest at 1. 3 billion, should begin to shrink by mid-century.

Morgan Stanley now estimates that Japan's economy will shrink by 1-3 per cent this year.

The areas where they are found could shrink by more than 80%.

Total loan volumes in the system could shrink by 10% between 2009 and 2011, says Analistas Financieros Internacionales, a research firm.

The IMF expects global GDP to shrink by 1. 4% this year, with rich countries' economies contracting by around 3. 8%.

Says Khine: "Shrinky Dinks shrink by 60 percent, but our new polymer shrinks 95 percent. And the properties shrink more consistently. "

The advanced economies are now forecast to shrink by 0. 3 per cent.

In contrast, the milder final quarter of 2009 saw utilities' output shrink by 2. 2%.

The largest thrift by assets in the US has seen its market capitalisation shrink by 95 per cent since the credit crunch began last year.

In April, Zenith Optimedia expected advertising spending in North America to shrink by 1. 5% in 2010.

This week the OECD, for example, concluded that global output will shrink by 2. 7% in 2009, sharply down on previous estimates.

Analysts reckon the economy will shrink by just 1-1. 5% this year, before resuming slow growth in 2010.

The working age population will shrink by 23% from 2015 to 2050.

The Greek economy contracted by 5. 5 percent this year, and it is projected to shrink by 3 percent next year.

Global trade is expected to shrink by more than 2. 1% next year after growing by 6. 2% in 2008, according to the WTO.

It now thinks it will shrink by 1. 4%.

The government expects Iceland's domestic production to shrink by 9% this year, falling a further 1 or 2% in 2010.

The government forecasts the economy will shrink by 4. 25% in 2009.

According to The Economist , the country's GDP is forecast to shrink by 1. 4% in 2009, after actually advancing 1. 0% in 2008.

Cyclically-adjusted net borrowing is forecast to shrink by a further 2. 1 per cent of GDP in 2011-12 and 1. 6 per cent of GDP in 2012-13.