VOA标准英语2009年-World Markets Lower Amid Further Signs of US Ec

World markets were mostly lower on Wednesday amid more dire¹ U.S. economic news and a move by Germany to facilitate bank nationalization. The Dow Jones Industrial Average was up one-tenth of a percent, while other U.S. indexes were just slightly lower. The Tokyo exchange was nearly 1.5 percent lower, while the major European indexes lost less than one percent.
　
Traders work on the floor of the New York Stock Exchange (file photo)

One day after President Barack Obama signed the biggest stimulus² package in U.S. history, the scale of the challenges facing America's ailing³ economy came into sharper focus.

The Federal Reserve, the nation's central bank, now projects U.S. unemployment will rise as high as 8.8 percent this year, while the economy could contract by as much as 1.3 percent, extending a recession that began more than a year ago.

In addition, the Fed reports that U.S. industrial production fell for a third consecutive⁴ month in January, by 1.8 percent, a larger drop than most economists⁶ had anticipated. The central bank also revised downward the figure previously⁷ released for December 2008 was the worst year for American manufacturing in seven years.

Meanwhile, the U.S. Commerce Department reported that new home construction plummeted⁸ to an all-time low, down 17 percent in January from the previous month. Applications for building permits, an indicator⁹ of future construction activity, also fell.
　
President Barack Obama speaking in Mesa, Arizona, 18 Feb 2009

President Obama says the housing slowdown is having a devastating¹⁰ effect on the economy as a whole.

"Construction companies and home furnishing stores and painters and landscapers, they are all cutting back. The number of residential¹¹ construction jobs has fallen by more than a quarter million since mid-2006. As businesses lose revenue and people lose income, the tax base shrinks, which means less money for schools and police and fire departments," he said.

Mr. Obama spoke¹² in Arizona on Wednesday, where he unveiled a program to reduce home foreclosures.

But not all economists see the steep decline in home construction as a bad thing, given the severely¹³ depressed¹⁴ state of America's housing market.

Millions of home foreclosures combined with a continuing credit squeeze and a deteriorating¹⁵ economy have led to a glut¹⁶ of unsold houses on the market. Given massive inventory¹⁷ surpluses, the last thing the market needs is an infusion¹⁸ of newly-built dwellings¹⁹, according to Diane Swonk, Chief Economist⁵ at Chicago-based Mesirow Financial.

"The bad news is, it is very hard on builders who cannot get paid to build. The good news is that it is clearing the inventory of unsold homes. What we are doing is not adding insult to injury by putting more empty homes on the market," she said.

Economists have been debating the likely effectiveness of President Obama's initiatives to prop²⁰ up the economy, aid homeowners and deal with the country's financial crisis.

More important than the details of any one provision of any one plan is whether, taken as a whole, the initiatives restore the nation's collective confidence, according to economist Mark Zandi of Moodys Economy.com.

"The key aspect of all of this, to get the economy on more stable ground, is to try to restore confidence because we have in many respects lost faith in our economy," he said.

Earlier Wednesday, Germany's government agreed on a new provision that will allow it to nationalize private banks that are at risk of failing. The measure is the latest in a series of steps taken by governments and central banks around the world to rescue their banking²¹ and financial sectors²² in the wake of a global credit crisis.

1 dire   

adj.可怕的，悲惨的，阴惨的，极端的

参考例句：

• There were dire warnings about the dangers of watching too much TV.曾经有人就看电视太多的危害性提出严重警告。
• We were indeed in dire straits.But we pulled through.那时我们的困难真是大极了，但是我们渡过了困难。

2 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

3 ailing   

v.生病

参考例句：

• They discussed the problems ailing the steel industry. 他们讨论了困扰钢铁工业的问题。
• She looked after her ailing father. 她照顾有病的父亲。

4 consecutive   

adj.连续的，联贯的，始终一贯的

参考例句：

• It has rained for four consecutive days.已连续下了四天雨。
• The policy of our Party is consecutive.我党的政策始终如一。

5 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。

6 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》

7 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。

8 plummeted   

v.垂直落下，骤然跌落( plummet的过去式和过去分词 )

参考例句：

• Share prices plummeted to an all-time low. 股票价格暴跌到历史最低点。
• A plane plummeted to earth. 一架飞机一头栽向地面。 来自《简明英汉词典》

9 indicator   

n.指标；指示物，指示者；指示器

参考例句：

• Gold prices are often seen as an indicator of inflation.黃金价格常常被看作是通货膨胀的指标。
• His left-hand indicator is flashing.他左手边的转向灯正在闪亮。

10 devastating   

adj.毁灭性的，令人震惊的，强有力的

参考例句：

• It is the most devastating storm in 20 years.这是20年来破坏性最大的风暴。
• Affairs do have a devastating effect on marriages.婚外情确实会对婚姻造成毁灭性的影响。

11 residential   

adj.提供住宿的；居住的；住宅的

参考例句：

• The mayor inspected the residential section of the city.市长视察了该市的住宅区。
• The residential blocks were integrated with the rest of the college.住宿区与学院其他部分结合在了一起。

12 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

13 severely   

adv.严格地；严厉地；非常恶劣地

参考例句：

• He was severely criticized and removed from his post.他受到了严厉的批评并且被撤了职。
• He is severely put down for his careless work.他因工作上的粗心大意而受到了严厉的批评。

14 depressed   

adj.沮丧的，抑郁的，不景气的，萧条的

参考例句：

• When he was depressed,he felt utterly divorced from reality.他心情沮丧时就感到完全脱离了现实。
• His mother was depressed by the sad news.这个坏消息使他的母亲意志消沉。

15 deteriorating   

恶化，变坏( deteriorate的现在分词 )

参考例句：

• The weather conditions are deteriorating. 天气变得越来越糟。
• I was well aware of the bad morale and the deteriorating factories. 我很清楚，大家情绪低落，各个工厂越搞越坏。

16 glut   

n.存货过多，供过于求；v.狼吞虎咽

参考例句：

• The glut of coffee led to a sharp drop in prices.咖啡供过于求道致价格急剧下跌。
• There's a glut of agricultural products in Western Europe.西欧的农产品供过于求。

17 inventory   

n.详细目录，存货清单

参考例句：

• Some stores inventory their stock once a week.有些商店每周清点存货一次。
• We will need to call on our supplier to get more inventory.我们必须请供应商送来更多存货。

18 infusion   

n.灌输

参考例句：

• Old families need an infusion of new blood from time to time.古老的家族需要不时地注入新鲜血液。
• Careful observation of the infusion site is necessary.必须仔细观察输液部位。

19 dwellings   

n.住处，处所( dwelling的名词复数 )

参考例句：

• The development will consist of 66 dwellings and a number of offices. 新建楼区将由66栋住房和一些办公用房组成。
• The hovels which passed for dwellings are being pulled down. 过去用作住室的陋屋正在被拆除。 来自《简明英汉词典》

20 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

21 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

22 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》