Translate the article into Russian orally. Greek economy keeps on crumbling
Greek economy keeps on crumbling
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.
http://www.reuters.com, June 8th, 2012
USEFUL TERMS AND EXPRESSIONS
· tocrumble –обрушиться, разрушаться, дробиться, распадаться
· to shrink (shrank, shrunk)– сокращаться
· spending cut– сокращениерасходов/ассигнований
Give English equivalents to the following word combinations.
объем промышленного производства;тенденция к снижению;сглаживать сезонныеколебания; в годовом исчислении;замедление темпов роста мировой экономики;спад в секторе промышленности; снижение ВВП;лица; ответственные за выработку экономической политики; сократить капиталовложения; снижение цен на нефть;предоставить данные без учета сезонных колебаний; экономический прогноз;повышение налогов; самое значительное сокращение ВВП за десятилетие.
TEXT 3
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UK economic recovery to continue into 2016, forecasts OECD
Britain’s economic recovery will continue into 2015 and 2016, driven by consumer spending and business investment, according to the Organisation for Economic Co-operation and Development.
The Paris-based thinktank said high job creation had fuelled UK growth, which it forecasts at 3% this year. The OECD is predicting growth of 2.7% in 2015 and 2.5% in 2016.
“Private consumption has been the main engine of the expansion, amid strong job creation, and business investment continues to recover strongly, supported by diminishing uncertainty,” the OECD said in its latest economic outlook report.
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UK export growth has been weak so far, the organisation noted. It said exports could weaken further if eurozone growth comes in below expectations.
Wage growth – which has been unexpectedly weak in 2014 – should start to pick up, it said, adding: “Stimulating retraining and encouraging migration in occupations where shortages arise would reduce labour mismatches and support balanced growth through higher productivity.”
The OECD cautioned however that if productivity does not recover as expected, it could translate into weaker UK growth.
“Robust productivity is an essential condition for strong and sustainable growth, and uncertainty over its recovery is a major risk to the projection.”
The Guardian, November 25th, 2014
USEFUL TERMS AND EXPRESSIONS
· athinktank –«мозговой» центр, аналитический центр
· to fuel –стимулировать, способствовать
· to diminish –уменьшать, убавлять, сокращать
· outlook –перспектива, прогноз
· sofar –пока, до настоящего времени, до сих пор
· mismatch –несоответствие, расхождение
TEXT 4
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China Inflation Rate Steady for Third Straight Month
BEIJING – China’s consumer-inflation rate held steady in April, giving the central bank more leeway to ease monetary policy as the world’s second-largest economy battles weak demand.
The National Bureau of Statistics reported Tuesday that China’s consumer-price index rose 2.3% from a year earlier in April, unchanged for the third consecutive month. The CPI figure undershot a median 2.4% gain forecast by 15 economists in a survey by The Wall Street Journal.
China’s economy expanded by 6.7% in the first quarter, its slowest quarterly pace since 2009, bolstered by record credit expansion and ramped-up stimulus spending.
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Vegetable and pork prices remained relatively high after the February Lunar New Year holiday, in part due to bad weather and a shortfall in the number of sows and piglets produced by farmers.
On the producer side, too many Chinese factories pumping out more goods than buyers have appetite for has left manufacturers in a four-year battle with deflation, which raises the cost of paying back debt. Beijing recently announced plans to cut overproduction in the steel and coal industries by around 10% over five years, although industry analysts say more is needed to better balance demand and supply.
The Wall Street Journal, May 10th, 2016
USEFUL TERMS AND EXPRESSIONS
· leeway –свобода действий
· toeasemonetarypolicy –проводить более либеральную денежно-кредитную политику
ant.to tighten
· medianforecast –средний /усредненный прогноз
· toundershoot –не дотягивать, не достигать, недостаточно расти
· to bolster –стимулировать, поддерживать, активизировать
· credit expansion –рост объемов кредитования
· stimulus spending –бюджетное стимулирование
· shortfall – дефицит, нехватка; снижение. уменьшение
· overproduction –перепроизводство
· demandandsupply – спрос и предложение
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