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By Michael Bowman
Washington
30 September 2009
Sidney LaFontant shops for a dishwasher with her husband and their son, at P.C. Richard & Son appliance store in New York, 4 Sep 2009
A modestly upbeat reading of U.S. economic performance is adding to hopes that the initial phase of a recovery could be underway.
The U.S. economy has been contracting for more than a year, and last quarter was no exception. An initial estimate of the April through June period showed negative growth at a 1 percent annual rate, which was an improvement over previous quarters that had seen drops as high as 5.4 percent.
Now, in its final calculation, the U.S. Commerce Department has revised the second quarter figure to a more modest .7 percent annualized dip in gross domestic product (GDP).
Economists2 welcomed the news, saying it bolsters3 projections4 that a recovery might already have begun.
"GDP numbers were a little bit better than expected. Most of us [economists] thought there would be a slight downward revision instead of a slight upward revision. We are expecting a pretty strong positive [growth] number for the third quarter, not just in the U.S., but [also] around the world," said David Weiss, Chief Economist1 at the credit rating agency, Standard and Poor's.
The upbeat sentiment was tempered, however, by a drop in a regional U.S. economic indicator5. The Chicago Purchasing Managers Index fell unexpectedly -- a sign of continued woes6 in U.S. manufacturing.
Overall, many economists expect an eventual7 economic recovery to be slow, with U.S. unemployment remaining high for months to come. The jobless rate stands at 9.7 percent and could edge higher, even if the overall economy returns to positive growth.
1 economist | |
n.经济学家,经济专家,节俭的人 | |
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2 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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3 bolsters | |
n.长枕( bolster的名词复数 );垫子;衬垫;支持物v.支持( bolster的第三人称单数 );支撑;给予必要的支持;援助 | |
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4 projections | |
预测( projection的名词复数 ); 投影; 投掷; 突起物 | |
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5 indicator | |
n.指标;指示物,指示者;指示器 | |
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6 woes | |
困境( woe的名词复数 ); 悲伤; 我好苦哇; 某人就要倒霉 | |
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7 eventual | |
adj.最后的,结局的,最终的 | |
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