The European market for heroin contracted as other drugs, especially cocaine and ecstasy, took over.

The market contracted in the mid-1990s, leading to the closure of many Direct Market shops.

With the U.S. government no longer required to buy silver, the market contracted and many of Aspen's mines closed.

Undoubtedly, the owners didn't sense how much the market for processors had contracted.

"The market is peaking and will contract next year as long as rates continue along this road," he said.

"Historically, yards were always hit when markets contracted," he said.

But as the market contracted, many people dropped out.

"If the industrialized world experiences an economic slump, its markets for the developing world's products will contract, damaging developing economies."

The market is not growing and may be contracting.

The survey also says that ten per cent of the county's companies think the market will actually contract in the next six months.