US Economy Grew Faster in Late 2011

 　　The U.S. economy, the world's largest, grew at its fastest pace in a year-and-a-half in late 2011, but questions remain whether the advance will continue in coming months.

　　The U.S. government said Friday the country's national economic output increased 2.8 percent in the October-to-December period, a bit below the 3 percent estimate economists¹ had projected. But the fourth quarter advance was the best of the year and the quickest pace since the April-to-June period in 2010.

　　For the year, the U.S. economy grew just 1.7 percent, after expanding 3 percent in 2010.

　　The government said the fourth quarter advance was boosted by companies rebuilding their inventories², and heightened consumer spending, which accounts for 70 percent of the national economy. But some of the spending came as Americans cut their savings³ rate.

　　While analysts⁴ said the American economy ended 2011 on a reasonably positive note, the advance could slow in the first months of 2012. With inventories rebuilt, businesses could ease their spending, and the U.S. is faced with a stalled economy throughout Europe, which could limit exports to one of its major trading partners.

　　The U.S. central bank, the Federal Reserve, this week forecast the country's 2012 economic growth at 2.2 to 2.7 percent, a slightly lower projection⁵ than it made just two months ago.

　　The U.S. economy has struggled to recover from the recession that extended from 2007 to 2009, advancing by some measurements, retreating in other ways.

　　The country's jobless rate, while still high by historical standards, declined to 8.5 percent in December, a figure that the nation's central bank says could edge lower in the coming months. About 200,000 jobs were added to the economy last month, but 13 million workers remain unemployed⁶, with millions more having given up looking for work or employed in part-time jobs even as they seek full-time⁷ work.

　　The U.S. housing market is perhaps the weakest link in the national economy, with the fewest ever number of new homes sold in 2011, based on records dating back nearly a half century.

　　Central bank officials have often expressed disappointment that several policy shifts have failed to consistently boost the U.S. economy. The Federal Reserve this week said it would keep its benchmark interest near zero through late 2014, a year-and-a-half longer than previously⁸ announced, in a renewed effort to assure financial institutions that their borrowing costs will remain low for the next three years.

　　But the continued low rate also was an acknowledgement that the U.S. economy is still not advancing as fast as government leaders has hoped.

　　The national economy has become the key issue in the country's 2012 presidential race, as U.S. President Barack Obama, a Democrat⁹, seeks a second four-year term. His two main Republican opponents - one-time venture capitalist Mitt¹⁰ Romney and former House of Representatives Speaker Newt Gingrich - have both staunchly criticized Mr. Obama's handling of the national economy as they vie for their party's nomination¹¹ to oppose him in the national election in November.

1 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

2 inventories   

n.总结( inventory的名词复数 )；细账；存货清单（或财产目录）的编制

参考例句：

• In other cases, such as inventories, inputs and outputs are both continuous. 在另一些情况下，比如存货，其投入和产出都是持续不断的。
• The store must clear its winter inventories by April 1st. 该店必须在4月1日前售清冬季存货。

3 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

4 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

5 projection   

n.发射，计划，突出部分

参考例句：

• Projection takes place with a minimum of awareness or conscious control.投射在最少的知觉或意识控制下发生。
• The projection of increases in number of house-holds is correct.对户数增加的推算是正确的。

6 unemployed   

adj.失业的，没有工作的；未动用的，闲置的

参考例句：

• There are now over four million unemployed workers in this country.这个国家现有四百万失业人员。
• The unemployed hunger for jobs.失业者渴望得到工作。

7 full-time   

adj.满工作日的或工作周的，全时间的

参考例句：

• A full-time job may be too much for her.全天工作她恐怕吃不消。
• I don't know how she copes with looking after her family and doing a full-time job.既要照顾家庭又要全天工作，我不知道她是如何对付的。

8 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

9 democrat   

n.民主主义者，民主人士；民主党党员

参考例句：

• The Democrat and the Public criticized each other.民主党人和共和党人互相攻击。
• About two years later,he was defeated by Democrat Jimmy Carter.大约两年后，他被民主党人杰米卡特击败。

10 mitt   

n.棒球手套，拳击手套，无指手套；vt.铐住，握手

参考例句：

• I gave him a baseball mitt for his birthday.为祝贺他的生日，我送给他一只棒球手套。
• Tom squeezed a mitt and a glove into the bag.汤姆把棒球手套和手套都塞进袋子里。

11 nomination   

n.提名，任命，提名权

参考例句：

• John is favourite to get the nomination for club president.约翰最有希望被提名为俱乐部主席。
• Few people pronounced for his nomination.很少人表示赞成他的提名。