通貨 つうか縮小 しゅくしょうではありませんでした
tsūkashukushōdewārimasendeshita

Noun
Desu Copula

The polite, past negative form of 通貨縮小

1. Was not deflation.; Was not monetary contraction.

Past/Perfective
Negative
Polite
Formal Register
Finance