[an error occurred while processing this directive] BBC World Service | Learning English | News English - Words in the News
This page has been archived and is no longer updated. Find out more about page archiving.
Skip to main contentAccess keys helpA-Z index

 
You are in: Home > General & Business English
Words in the News
 
Friday 14 November 2003
 
Global economy
 
Businessmen There has been further evidence of global economic recovery with new figures for growth from Italy and Japan. The figures follow signs of improvement in other leading economies, notably the United States and several in Europe. This report from Andrew Walker
 
Listen Listen to the story
 
The world economy has not managed a convincing recovery from what was, by many analysts' reckoning, a global recession in 2001. The following year saw rather better growth, but still below normal. That continued into the first few months of this year, as business was held back by fears about the coming war in Iraq and the pneumonia-like illness, SARS. The war is now over and the spectre of SARS in abeyance. The new figures from Italy and Japan add to a picture of strengthening performance around the world. The United States is leading the improvement, having recorded very strong growth in the third quarter of this year. Germany, France and the Netherlands have started growing again after a period of declining output and British growth has accelerated. In continental Europe, the growth was not particularly strong, but it was growth nonetheless. And there are concerns about the amount of debt that consumers have built up in some countries, notably Britain. There are also some worries that house prices are too high in some countries - Britain again and the United States - and that a fall could cause consumers to cut back spending on goods and services. Nonetheless, the general global economic outlook now looks a good deal more positive than it was earlier in the year.

Andrew Walker, BBC

 
 
Listen Listen to the words
 
by many analysts' reckoning
 
according to the opinions of many people who analyse economic trends
 
saw rather better growth
 
there were better figures during this period
 
the spectre of SARS in abeyance
 
SARS does not frighten people at the present time
 
third quarter of this year
 
July, August and September
 
a period of declining output
 
a time during which production dropped
 
accelerated
 
the rate of improvement has got faster
 
strong
 
high
 
nonetheless
 
in spite of the fact that it was only small
 
the amount of debt that consumers have built up
 
the amount of money that people have borrowed in order to buy things
 
a good deal more positive
 
there are more indications that it will improve
 
 
blue arrow Read more about this story
 
SEARCH IN LEARNING ENGLISH
   
 
 
 
 
LEARN IN YOUR LANGUAGE
 
 
 
 
Link to Chinese English language teaching pagesLink to Arabic English language teaching pagesLink to Russian English language teaching pagesLink to Spanish English language teaching pages
A space gif
A grey bar A grey bar A grey bar