contraction

(kən-trăkˈshən)

1. The act of contracting or the state of being contracted.
2. a. A word, as won't from will not, or phrase, as o'clock from of the clock, formed by omitting or combining some of the sounds of a longer phrase.
   b. The formation of such a word.
3. Physiology The shortening and thickening of functioning muscle or muscle fiber.
4. A period of decreased business activity.