Syn. for the second consecutive month, for the second month in a row, for the second month running

· a decade – десятилетие

· exports – объем экспортных поставок

· to forecast – прогнозировать

· estimate – предварительная оценка, прогноз

median estimate – усредненная оценка/прогноз

II.

Greece’s economy shrank in the first three months of 2012, the 13th contraction in the past 14 quarters as policy makers struggled to stay in the euro.

Gross domestic product dropped 6.2 percent from a year earlier in the first quarter after contracting 7.5 percent in the fourth quarter of 2011, the Athens-based Hellenic Statistical Authority said in an e-mailed statement today. The figure is based on non-seasonally adjusted data. The agency didn’t provide a seasonally adjusted figure.

The European Commission forecasts Greece’s economy will contract 4.7 percent this year, its fifth year of a recession compounded by spending cuts and tax increases.

(кол-во знаков – 553)

· to shrink (shrank, shrunk) – сокращаться

· spending cut – сокращение расходов/ассигнований

Suggest the Russian for the following:

Seasonally adjusted figure, annual decline in output, for two consecutive years, to recover from slump, to propose spending cuts, nominal GDP contraction, shrinking economy, slowdown in demand, policy makers, the biggest drop in a decade.

Give English equivalents to the following word combinations:

Снижение ставок налогообложения, данные без учета сезонных колебаний, третий квартал подряд, в годовом исчислении, рост реального ВНП, экономический спад, по усредненным оценка; обзор, подготовленный Центробанком, подъем в отраслях промышленности, увеличение объема производства.

III.

U.S. factory output surged in December by the most in year. Stronger demand for business equipment, vehicles and energy offered the most visible evidence that manufacturing has roared back from the depths of the recession.

The Federal Reserve said Wednesday that manufacturing increased 0.9 percent in December, the biggest gain since December 2010. The overall output of the nation’s factories, mines and utilities grew 0.4 percent in December. Warm weather dampened demand for energy produced by utilities.

Industrial output is less than 5 percent below its pre-recession peak, reached in September 2007. It has increased more than 14 percent since hitting a recession low in June 2009.

Manufacturing activity remains nearly 8 percent below its pre-recession peak in July 2007, yet it has increased almost 15 percent from its recession low. The recession hit manufacturing harder than overall industry, so its path to recovery has been a little slower.

(кол-во знаков – 806)

· factory output – объем промышленного производства

· the Federal Reserve – Федеральная Резервная Система (выполняет функции ЦБ США)

· overall output – валовой выпуск

· dampen demand for smth – ослаблять/уменьшать/сдерживать спрос на

· pre-recession peak – докризисный максимум

· manufacturing activity – объем производства в обрабатывающей промышленности

IY.

The Chinese government announced on Friday a significant drop in inflation, which gives leaders more leeway in managing the economy and continuing with a policy of cutting interest rates to help sustain economic growth.

The government said year-on-year price inflation dropped to 3.2 percent in February from 4.5 percent in January; it was the smallest rise since June 2010. The index has climbed an average of 3.9 percent in the first two months of 2012. Officials recently announced that the government’s aim is to keep average monthly inflation below 4 percent this year. Inflation for food, which causes more consternation (ужас, испуг) among Chinese than virtually all other economic factors, fell to 6.2 percent in February from 10.5 percent in January.

(кол-во знаков – 639)

· leeway – свобода действий

· to sustain economic growth – поддерживать/обеспечивать экономический рост

· price inflation – рост цен

· year-on-year – по сравнению с аналогичным периодом предшествующего года

Suggest the Russian for the following:

To sustain economic growth, year-on-year comparison, to increase factory output, to cut interest rates, drop in price inflation, manufacturing recession, output gain, demand for consumer goods, overall industrial output, pre-recession peak.

Give English equivalents to the following word combinations:

Инфляция потребительских цен, резкое сокращение объема промышленного производства, понизить уровень безработицы, повысить процентные ставки, достичь минимального значения за весь период спада, ФРС, отрицательно сказаться на отраслях промышленности.

Y.

Indonesia's economic expansion slowed in the first quarter, but robust domestic demand continued to make it one of the fastest-growing markets in the world.

The first-quarter gross domestic product of Southeast Asia's largest economy was up 6.3% from a year earlier, Indonesia's Central Statistics Agency said Monday. While slightly off from the previous quarter's 6.5% pace, it was still one of the highest growth rates in the world. Two other big Asian economies—India and China—also expanded more than 6% in the first quarter, economists said.

Indonesia's economy has grown at an annual rate exceeding 5% in seven of the past eight years. The country's ability to simultaneously keep growth alive and inflation in check will decide whether it becomes the next big Asian success story—or the next Vietnam, which saw its growth tumble as inflation shot up past 25% last year.

Unlike many of its neighbors, Indonesia doesn't depend on exports to Europe and the U.S. for growth, so slowdowns in those countries have had only a limited impact on its expansion.

Inflation, however, is still a concern, economists said. The slight cooling in the first quarter should give the central bank confidence that it doesn't have to lift interest rates just yet.

(кол-во знаков – 1047)

· robust – быстрый, динамичный, активный

· keep inflation in check – сдерживать рост инфляции

· to tumble – стремительно падать

· to shoot up – быстро расти, повышаться

· to have impact on smth – оказывать влияние/воздействовать

· to lift – поднимать, повышать

YI.

Goldman Sachs expects global GDP to increase only 3.2% in 2012, down from 3.8% in 2011. The advanced economies, Goldman forecasts, will limp along at 1% growth in 2012, a sharp drop from 1.7% in 2011.

Much of what happens to the global economy in 2012 will be determined by the euro zone. A consensus is building that the zone is headed for a full-blown recession. Goldman Sachs believes euro area GDP will shrink in 2012, by 0.8%. HSBC estimates a 1% contraction.

But we still have emerging markets to hold up global growth, right? Yes, the Chinese and Indian economies will continue to roar, but there are problems afoot in the developing world as well. Three main drivers of China’s growth – exports, housing construction and infrastructure development – are all facing headwinds. Europe’s problems are already taking a toll. China’s manufacturing PMIs have been weak in recent months, an indication that Chinese factories are on the downswing. Housing prices are slipping as well, another potential drag on growth.

(кол-во знаков – 888)

· global GDP – мировой ВВП (ВМП)

· to limp along – медленно двигаться, плестись

· to build a consensus – приходить к единому мнению

· full-blown – полномасштабный, резко выраженный

· a driver – движущая сила

· housing construction – жилищное строительство

· infrastructure development – развитие инфраструктуры

· headwinds – 1) препятствия 2) встречный ветер

· manufacturing PMI (Purchasing Managers Index) - Индекс деловой активности в секторе обрабатывающей промышленности

· a drag – тормоз, помеха

Suggest the Russian for the following:

Housing market, to be on the downswing, potential drag on growth, at an annual rate, robust global demand, emerging economies, the main driver of economic expansion, to face headwinds, economic cooling, to keep growth alive, slowdown in exports, o have impact on growth rates.

Give English equivalents to the following word combinations:

Сокращение ВВП на 1%, динамичный рост доходов, замедление темпов экономического роста в промышленно развитых странах, спад в жилищном строительстве, стремительный экономический подъем, полномасштабный экономический спад, повысить процентные ставки, ежегодный прирост, сдерживать рост цен на жилую недвижимость, увеличиться на 6% в третьем квартале.

YII.

For the first time in many years, American manufacturing is doing better than the rest of the economy. Manufacturing output tumbled 15% over the course of the recession, from December 2007 to the end of June 2009. Since then it has recovered two-thirds of that drop; production is now just 5% below its peak level.

Factory employment has been slower to recover than output, since productivity has risen. Nonetheless, that too is growing. In the past year manufacturing employment has gone up by 1.6%, the biggest gain since the late 1990s.

Beyond this cyclical bounce-back, a structural shift may also be under way. Makers of floorings, furniture and glass, were especially hard hit and have yet to start hiring again. But those that make things for businesses or customers overseas are flourishing.

Housing and car sales have typically led previous recoveries, but this time both have been held back by tight credit conditions and heavy household debt. Meanwhile business investment, typically a laggard, is rising because of tax incentives and because firms had so long delayed replacing ageing equipment.

(кол-во знаков – 929)

· factory employment – численность занятых в производственном секторе

· productivity – 1) производительность 2) продуктивность

· bounce-back – рост после снижения, возобновление роста

· to be under way - происходить, проходить

· to flourish – процветать, преуспевать

· tight credit conditions – жесткие условия кредитования, ограничения на выдачу кредитов

· incentive – стимул, льгота

tax incentives – налоговые стимулы/льготы

· to replace – заменять

YIII.

Japan’s economy contracted in the fourth quarter when compared with the previous three months, though analysts are optimistic about the country’s prospects for the rest of the year.

Japan’s gross domestic product fell 0.3 percent in the October-December quarter as the end of generous government incentives on environmentally friendly cars resulted in a temporary decline in spending. At an annualized rate, Japan’s economy shrank 1.1 percent from the previous quarter.

The contraction, the first in five quarters, brought Japan’s economy for 2010 to $5.47 trillion, the Japanese Cabinet Office said. That compared with a $5.88 trillion economy for fast-growing China. The latest numbers were further evidence of China’s rapid ascent as an economic superpower, as China surpassed Japan last summer after the half-year gross domestic product numbers were released. Just five years ago, China’s gross domestic product was around $2.3 trillion, about half Japan’s.

Japan’s economy has stagnated over the last two decades, reflecting its continued decline in economic and political clout.

(кол-во знаков - 923)

· prospects (for) – перспективы

· to surpass - обогнать, обойти по показателям

· to stagnate – стагнировать, находиться в состоянии застоя

stagnation – стагнация, застой

· government incentives – правительственные меры стимулирования

· clout – вес, влияние, мощь

Suggest the Russian for the following:

Manufacturing recession, to have clout in some area, to surpass a competitor, decline in factory employment, to be bellow peak level, a structural shift, household income, bounce-back in manufacturing output, economic contraction.

Give the English equivalents to the following word combinations:

Отрасль промышленности, переживающая застой; инвестиции/капиталовложения коммерческих предприятий, перспективы развития экономики, временное сокращение государственных расходов, жесткие условия кредитования, финансовые льготы/стимулы, выжить в условиях застоя, производительность труда, политическое влияние, преуспевающие компании, заменить устаревающее оборудование.