Growth Expected to Slow in World's Largest Economies

 　　Growth for the world's biggest economies is expected to stall in the last three months of this year, according to the Paris-based Organization for Economic Cooperation and Development. The new findings come before a key meeting of finance ministers from the G7 countries.

　　The latest economic outlook by the Organization for Economic Cooperation and Development (OECD) adds to growing fears that major economies are tilting¹ back into recession. It predicts that major industrialized economies will register an average of 1.6 percent growth during the third quarter of this year, and only 0.2 percent in the last three months of 2011.

　　U.S. economic growth is expected to slow to just 1.1 percent in the third quarter and 0.4 percent in the last quarter of this year. Europe's biggest economy, Germany, which was posting strong growth earlier this year, is also expected to slow to 1.4 percent in the last quarter.

　　The report piles on more gloomy economic news before a two-day meeting of finance ministers and central bankers of the G7 nations, which include the United States, Britain, Japan, France, Canada, Germany and Italy.

　　OECD chief economist² Pier³ Carlo Padoan says that growth is stagnating⁴ not only among the G7 major industrialized economies, but across the group's 34 member states.

　　"We now forecast a much slower growth in 2011 and going forward which amounts to a growth of less than one percent in the G7, with the exception of Japan," he said. "So this is a quite downward revision. This, of course, accompanies the fact that we have seen already significant slowdown in the major advanced economies."

　　Padoan says it is critical policy makers⁵ use all the tools at their disposal to rebuild confidence, including exchange rate adjustments, recapitalizing European banks, and strengthening the architecture of the 17-nation eurozone.

　　Concern is high about both European and American economies, which are not only struggling with low growth, but also with high unemployment and debt.  In Europe, fears are growing that G7 member Italy may be the next country facing a financial crisis - after Greece, Ireland and Portugal.

　　Friday's G7 meeting is being hosted by France, the current rotating president of the group.  According to the OECD, the French economy is expected to slow to 0.4 percent in the fourth quarter of this year.

1 tilting   

倾斜，倾卸

参考例句：

• For some reason he thinks everyone is out to get him, but he's really just tilting at windmills. 不知为什么他觉得每个人都想害他，但其实他不过是在庸人自扰。
• So let us stop bickering within our ranks.Stop tilting at windmills. 所以，让我们结束内部间的争吵吧！再也不要去做同风车作战的蠢事了。

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 pier   

n.码头；桥墩，桥柱；[建]窗间壁，支柱

参考例句：

• The pier of the bridge has been so badly damaged that experts worry it is unable to bear weight.这座桥的桥桩破损厉害，专家担心它已不能负重。
• The ship was making towards the pier.船正驶向码头。

4 stagnating   

v.停滞，不流动，不发展( stagnate的现在分词 )

参考例句：

• I feel I'm stagnating in this job. 我觉得，干这份工作我没有长进。
• ITT was stagnating when Geneen became the chief executive officer in 1959. 1959年吉宁出任行政总负责人时，国际电话电报公司正处于不景气时期。 来自辞典例句

5 makers   

n.制造者，制造商（maker的复数形式）

参考例句：

• The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
• The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》