VOA标准英语2009-US Economic Growth Revised Downward

New numbers show GDP grew at a slower pace in the third quarter than the original estimate of 3.5 percent

Mil Arcega | Washington, DC 24 November 2009

 
A foreclosed home in Mountain View, California, 28 May 2009

As the all important holiday shopping season approaches, worries over the U.S. economy remain front and center.  New numbers released by the Commerce Department on Tuesday show the economy grew at a 2.8 percent annual rate in the third quarter - slower than original estimates, which pegged¹ the nation's growth at three and a half percent.  Many economists³ believe growth in the fourth quarter will remain weak as consumers rein⁴ in spending.

For retailers⁶, it's the start of the make-or-break holiday shopping season.

But with unemployment running high, consumer spending, which accounts for two thirds of the U.S. economy, is likely to be muted.

Compared to last year, ABC business analyst⁷ Melody Hobson says a smaller decline in holiday spending will seem like an improvement. "The National Retail⁵ Federation⁸ is saying flat to slightly down, maybe down one percent, which is actually good news compared to the brutal⁹ Christmas we had last year when sales were down 3.4 percent," she said.

Analysts¹⁰ say some of the insecurity is showing up in revised GDP numbers for the third quarter -  down seven tenths of a percent from earlier estimates - in part due to weaker spending and rising unemployment.

Some critics say President Obama has been too focused on the war in Afghanistan and health care reform - and not enough on the economy.  "He is under so much pressure not only to get a major legislative¹¹ initiative, which is health care reform," Anne Mathias said. "And at the same time he has to address concerns that he hasn't been doing enough to focus on the real underlying¹² problems in the economy."

But President Obama, who convenes¹³ a job summit in December, says his administration is looking at all options. "I will not rest until businesses are investing again and businesses are hiring again and people have work again," Mr. Obama said.

Economists say there is reason for optimism.  The U.S. housing market, a key factor in the economic meltdown, has shown signs of recovery.  And consumer confidence has improved slightly.

Economist² Michelle Meyer says the recovery may be slow - but it is happening.
"We think that by early next year, you should start to see hiring outpace firing, and actually see aggregate¹⁴ job creation in the economy," Meyer said.

Some economists predict the nation's unemployment rate, now at 10.2 percent, could rise as high as 11 percent.  And some say it could take up to four years before employment returns to normal levels.

1 pegged   

v.用夹子或钉子固定( peg的过去式和过去分词 )；使固定在某水平

参考例句：

• They pegged their tent down. 他们钉好了账篷。 来自《简明英汉词典》
• She pegged down the stairs. 她急忙下楼。 来自《现代英汉综合大词典》

2 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

3 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》

4 rein   

n.疆绳，统治，支配；vt.以僵绳控制，统治

参考例句：

• The horse answered to the slightest pull on the rein.只要缰绳轻轻一拉,马就作出反应。
• He never drew rein for a moment till he reached the river.他一刻不停地一直跑到河边。

5 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

6 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

7 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

8 federation   

n.同盟，联邦，联合，联盟，联合会

参考例句：

• It is a federation of 10 regional unions.它是由十个地方工会结合成的联合会。
• Mr.Putin was inaugurated as the President of the Russian Federation.普京正式就任俄罗斯联邦总统。

9 brutal   

adj.残忍的，野蛮的，不讲理的

参考例句：

• She has to face the brutal reality.她不得不去面对冷酷的现实。
• They're brutal people behind their civilised veneer.他们表面上温文有礼，骨子里却是野蛮残忍。

10 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。

11 legislative   

n.立法机构，立法权；adj.立法的，有立法权的

参考例句：

• Congress is the legislative branch of the U.S. government.国会是美国政府的立法部门。
• Today's hearing was just the first step in the legislative process.今天的听证会只是展开立法程序的第一步。

12 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。

13 convenes   

召开( convene的第三人称单数 )； 召集； （为正式会议而）聚集； 集合

参考例句：

• The Premier convenes and presides over the executive meetings and plenary meetings of the State Council. 总理召集和主持国务院常务会议和国务院全体会议。 来自汉英非文学 - 中国宪法
• Chinese woman tenth the National People Congress convenes grandly today in Beijing. 中国妇女第十次全国代表大会今天在北京隆重召开。

14 aggregate   

adj.总计的，集合的；n.总数；v.合计；集合

参考例句：

• The football team had a low goal aggregate last season.这支足球队上个赛季的进球总数很少。
• The money collected will aggregate a thousand dollars.进帐总额将达一千美元。