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(单词翻译:双击或拖选)
The U.S. central bank says the U.S. economy continues to deteriorate1, and the outlook for the months ahead remains2 grim. Wednesday's Federal Reserve report followed another decline in U.S. retail3 sales that helped push financial markets lower.
In its latest snapshot of America's economic health, the U.S. central bank says overall conditions continued to deteriorate in recent months in all regions of the United States. The report says American consumers have reacted to a severe recession by further cutting back spending, prompting dismal4 retail sales numbers and forcing businesses to cut back on production.
The Federal Reserve has slashed5 U.S. interest rates to record-low levels, and there is no indication that it intends to tighten6 monetary7 policy anytime soon.
The Fed report came hours after the U.S. Commerce Department said retail sales fell for a record sixth consecutive8 month in December, plummeting9 two-point-seven percent - more than double what many economists11 had expected.
"Same-store sales have been negative for month after month after month. It is reflective of how difficult the retail environment is and how much consumers have scaled back their spending. I mean, this was just a terrible number," says retail industry analyst12 Ken13 Perkins.
Responding to weak demand, businesses cut their product inventories14 by point-seven percent in November, the largest decline in seven years.
U.S. consumer spending accounts for more than half of the country's economic activity, and the protracted15 slump16 in retail sales is seen as yet another strong indicator17 of economic weakness. If 2008 was the year that saw the obliteration18 of America's biggest names in the financial services industry, 2009 could be the year of failed U.S. retailers19.
"We are going to be seeing a rash of store closings and retail bankruptcies20 here over the next few months," says economist10 Robert Dye of PNC Financial Services.
Last week, one of America's best known retail stores, Macy's, announced poor sales were forcing it to close a number of its outlets21 around the country.
Economic pain extends far beyond the United States. New rounds of job cuts are being announced almost daily in many countries, including Britain, where banks, carmakers, and retailers announced a combined total of nearly 3,000 workers eliminated from payrolls22 Wednesday.
The drumbeat of negative economic news is taking a toll23 on oil prices, which slid under $36 a barrel on the New York Mercantile Exchange. Poor economic indicators24 are also punishing financial markets.
"Investors25 are still very nervous, very jumpy, and, as we can see, it does not take much to knock the market down sharply," says Al Goldman, Chief Market Strategist at Wachovia Securities.
Wall Street's Dow Jones Industrial Average was sharply lower Wednesday. Shares in London, Paris, and Frankfurt all finished the day down more than four and a half percent. Markets in Tokyo and Hong Kong both recorded slight gains.
1 deteriorate | |
v.变坏;恶化;退化 | |
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2 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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3 retail | |
v./n.零售;adv.以零售价格 | |
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4 dismal | |
adj.阴沉的,凄凉的,令人忧郁的,差劲的 | |
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5 slashed | |
v.挥砍( slash的过去式和过去分词 );鞭打;割破;削减 | |
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6 tighten | |
v.(使)变紧;(使)绷紧 | |
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7 monetary | |
adj.货币的,钱的;通货的;金融的;财政的 | |
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8 consecutive | |
adj.连续的,联贯的,始终一贯的 | |
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9 plummeting | |
v.垂直落下,骤然跌落( plummet的现在分词 ) | |
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10 economist | |
n.经济学家,经济专家,节俭的人 | |
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11 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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12 analyst | |
n.分析家,化验员;心理分析学家 | |
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13 ken | |
n.视野,知识领域 | |
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14 inventories | |
n.总结( inventory的名词复数 );细账;存货清单(或财产目录)的编制 | |
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15 protracted | |
adj.拖延的;延长的v.拖延“protract”的过去式和过去分词 | |
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16 slump | |
n.暴跌,意气消沉,(土地)下沉;vi.猛然掉落,坍塌,大幅度下跌 | |
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17 indicator | |
n.指标;指示物,指示者;指示器 | |
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18 obliteration | |
n.涂去,删除;管腔闭合 | |
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19 retailers | |
零售商,零售店( retailer的名词复数 ) | |
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20 bankruptcies | |
n.破产( bankruptcy的名词复数 );倒闭;彻底失败;(名誉等的)完全丧失 | |
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21 outlets | |
n.出口( outlet的名词复数 );经销店;插座;廉价经销店 | |
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22 payrolls | |
n.(公司员工的)工资名单( payroll的名词复数 );(公司的)工资总支出,工薪总额 | |
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23 toll | |
n.过路(桥)费;损失,伤亡人数;v.敲(钟) | |
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24 indicators | |
(仪器上显示温度、压力、耗油量等的)指针( indicator的名词复数 ); 指示物; (车辆上的)转弯指示灯; 指示信号 | |
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25 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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