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Words in the News
Friday 01 August 2003
US economy brightens
President Bush says the budget deficit will halve There has been a jump in the rate at which the American economy grows. Figures just published show gross domestic product rising at 2.4 percent a year in the second quarter of 2003. This report from Steven Evans:
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American economists are divided between those who assert that robust growth is on the way back and those who doubt that rosy view.

Today's figures bolster the optimists' case. The 2.4 percent annual growth rate in the second quarter was much higher than the anaemic 1.4 percent of the first quarter. Defence expenditure provided part of that acceleration, up by 44 percent on the previous year and the biggest jump since 1951.

Spending by individuals in shops and on houses was also higher though as was spending on equipment by companies, though the rise in spending by people and companies was nowhere near as big as the rise by government.

It seems that post-war pessimism is lifting for businesses which have also run down their stocks of unsold goods and may now be thinking of spending more and perhaps hiring staff.

The figures mean that the chances of Mr Bush losing next year's election because of the economy are much slimmer.

Steven Evans, BBC, New York
Listen Listen to the words
state firmly
robust growth
strong and healthy improvement
rosy view
idea that everything will be good
support in order to make stronger
tired and weak
here - faster rate of improvement
nowhere near as big as
much smaller than
belief that bad things are going to happen
run down
reduced the quantity of
less likely
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