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Economic Confidence Declines in US, Europe

时间:2011-08-31 07:59来源:互联网 提供网友:落幕雪儿   字体: [ ]
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   Separate reports on U.S. consumer confidence and European economic sentiment added to the volatility1 in global markets Tuesday.  In the U.S., consumer confidence fell to its lowest level in 16 months, while the European Union's index of economic sentiment saw a sixth consecutive2 decline. The pessimism3 reflects the growing economic uncertainty4 on both sides of the Atlantic.

  U.S. consumer confidence deteriorated5 sharply in August as Americans grew more pessimistic about jobs and the slow pace of recovery.  Despite an uptick in consumer spending, the Commerce Department says U.S. growth has been less robust6 than expected, expanding at an annual rate of just 1 percent in the second quarter.  Economist7 Gary Burtless at the Brookings Institution says the political debate on deficits8 and the debt ceiling has made matters worse.
  "Nothing that the Congress has done so far this year is going to boost the rate of growth of the economy and, arguably, it's going to - in the short-run - make things a little bit worse over the next 12 months," Burtless said.
  While the appetite for spending cuts could increase the risk of another U.S. recession, weak growth prospects9 in Europe is adding to the pessimism.  Germany, considered the powerhouse economy among the 17-nations that use the euro, grew by a mere10 one tenth of one percent in the second quarter.  Analysts say that further complicates11 the eurozone's ability to underwrite debt-heavy nations such as Greece and Portugal.
  The uncertainty could force banks to hike interest rates -- raising the risk of debt defaults among weaker eurozone countries.
  Iain Begg at the London School of Economics says the resulting crisis could have a domino effect on banks in the U.S.
  "I think we already know the degree of the contagion12 because we witnessed it in 2008 after the demise13 of Lehman Brothers, which showed just how heavily interconnected both sides of the Atlantic - indeed the whole world - is when it comes to financial markets.  So the risks are considerable," Begg said.
  Economist Vincent Reinhart at the American Enterprise Institute in Washington says such a scenario14 might cause investors15 to pull their money out of the banking16 system.
  "The extent to which problems in Europe infect financial intermediaries and the extent to which problems in Europe lead investors to withdraw from risk taking generally -- that hits our asset markets," Reinhart said.
  Despite the inability of Europe's leaders to find a short-term solution to end the debt crisis, there are a few glimmers17 of hope in the U.S.
  Global markets remain optimistic about the possibility of new action to jolt18 the U.S. economy when the Federal Reserve's Open Market Committee meets in September.
  Investors are also anticipating a big announcement next week by President Barack Obama on a new initiative to encourage U.S. companies to hire more workers.

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1 volatility UhSwC     
n.挥发性,挥发度,轻快,(性格)反复无常
参考例句:
  • That was one reason why volatility was so low last year.这也是去年波动性如此低的原因之一。
  • Yet because volatility remained low for so long,disaster myopia prevailed.然而,由于相当长的时间里波动性小,灾难短视就获胜了。
2 consecutive DpPz0     
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。
3 pessimism r3XzM     
n.悲观者,悲观主义者,厌世者
参考例句:
  • He displayed his usual pessimism.他流露出惯有的悲观。
  • There is the note of pessimism in his writings.他的著作带有悲观色彩。
4 uncertainty NlFwK     
n.易变,靠不住,不确知,不确定的事物
参考例句:
  • Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
  • After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后,压力开始产生影响了。
5 deteriorated a4fe98b02a18d2ca4fe500863af93815     
恶化,变坏( deteriorate的过去式和过去分词 )
参考例句:
  • Her health deteriorated rapidly, and she died shortly afterwards. 她的健康状况急剧恶化,不久便去世了。
  • His condition steadily deteriorated. 他的病情恶化,日甚一日。
6 robust FXvx7     
adj.强壮的,强健的,粗野的,需要体力的,浓的
参考例句:
  • She is too tall and robust.她个子太高,身体太壮。
  • China wants to keep growth robust to reduce poverty and avoid job losses,AP commented.美联社评论道,中国希望保持经济强势增长,以减少贫困和失业状况。
7 economist AuhzVs     
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。
8 deficits 08e04c986818dbc337627eabec5b794e     
n.不足额( deficit的名词复数 );赤字;亏空;亏损
参考例句:
  • The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
  • Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句
9 prospects fkVzpY     
n.希望,前途(恒为复数)
参考例句:
  • There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
  • They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。
10 mere rC1xE     
adj.纯粹的;仅仅,只不过
参考例句:
  • That is a mere repetition of what you said before.那不过是重复了你以前讲的话。
  • It's a mere waste of time waiting any longer.再等下去纯粹是浪费时间。
11 complicates 5877af381de63ddbd027e178c8d214f1     
使复杂化( complicate的第三人称单数 )
参考例句:
  • What complicates the issue is the burden of history. 历史的重负使问题复杂化了。
  • Russia as a great and ambitious power gravely complicates the situation. 俄国作为一个强大而有野心的国家,使得局势异常复杂。
12 contagion 9ZNyl     
n.(通过接触的疾病)传染;蔓延
参考例句:
  • A contagion of fear swept through the crowd.一种恐惧感在人群中迅速蔓延开。
  • The product contagion effect has numerous implications for marketing managers and retailers.产品传染效应对市场营销管理者和零售商都有很多的启示。
13 demise Cmazg     
n.死亡;v.让渡,遗赠,转让
参考例句:
  • He praised the union's aims but predicted its early demise.他赞扬协会的目标,但预期这一协会很快会消亡。
  • The war brought about the industry's sudden demise.战争道致这个行业就这么突然垮了。
14 scenario lZoxm     
n.剧本,脚本;概要
参考例句:
  • But the birth scenario is not completely accurate.然而分娩脚本并非完全准确的。
  • This is a totally different scenario.这是完全不同的剧本。
15 investors dffc64354445b947454450e472276b99     
n.投资者,出资者( investor的名词复数 )
参考例句:
  • a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
  • a cash bonanza for investors 投资者的赚钱机会
16 banking aySz20     
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。
17 glimmers 31ee558956f925b5af287eeee5a2a321     
n.微光,闪光( glimmer的名词复数 )v.发闪光,发微光( glimmer的第三人称单数 )
参考例句:
  • A faint lamp glimmers at the end of the passage. 一盏昏暗的灯在走廊尽头发出微弱的光线。 来自互联网
  • The first glimmers of an export-led revival are apparent. 拉动出库复苏的第一缕曙光正出现。 来自互联网
18 jolt ck1y2     
v.(使)摇动,(使)震动,(使)颠簸
参考例句:
  • We were worried that one tiny jolt could worsen her injuries.我们担心稍微颠簸一下就可能会使她的伤势恶化。
  • They were working frantically in the fear that an aftershock would jolt the house again.他们拼命地干着,担心余震可能会使房子再次受到震动。
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TAG标签:   economic  decline  economic  decline
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