1.   But equity markets still appear to be coming to grips with both a cyclical decline in earnings and the uncertain prospects in a changed world.

2.   But many fish have faced cyclical declines for several reasons, including popularity.

3.   But scientists believe the productivity of the North Pacific may be entering a cyclical decline.

4.   But, as Europe recovers, there is a risk that cyclical declines in budget deficits and unemployment will reduce the incentive to take tough measures.

5.   The cyclical decline was partly due to an electronics slump.