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Words in the News
 
Wednesday 26 November 2003
 
US economy roaring
 
US dollars The American government has said that the US economy has grown even faster than at first thought. The Commerce Department figures show an increase equivalent to an annual rate of 8.2 per cent - the highest for nineteen years. This report from Adam Brookes:
 
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The American economy is roaring, according to the latest Commerce Department figures.

From July to September, it grew at an annual rate of eight-point-two per cent - that's more than double the rate for the second quarter. It's a whole percentage point higher than the Commerce Department first thought, and it's the sort of figure more associated with Asian tiger economies than with the world's largest.

Corporate profits were up markedly, and that's leading hungry brokers to ponder yet more rises on the stock markets.

It's all excellent news for President George Bush as he enters his presidential re-election campaign. These figures will make it extremely difficult for Democrats to criticize his handling of the economy.

Still, despite the robust growth, if you listen closely to the analysts and bankers, you can pick up a low buzz of concern over some areas of the economy. The growth, for example, in the number of jobs doesn't yet match the economy's expansion.

The government is spending far, far more money than it's bringing in - and that deficit, say analysts, along with worries about terrorism and security, has weakened the dollar, and that's really worrying some here.

ADAM BROOKES, BBC, WASHINGTON
 
 
Listen Listen to the words
 
roaring
 
performing very well, being very successful (colloquial)
 
the second quarter
 
the second three months of the calendar year: April, May and June
 
Asian tiger economies
 
Asian countries which have shown remarkably quick economic growth over a short period of time (e.g., Thailand, Malaysia)
 
markedly
 
very obviously, noticeably
 
hungry
 
if you are hungry for something, you want it very much. In this case, the hunger is for financial gain
 
brokers
 
people whose job is to buy and sell shares, foreign money or goods for other people
 
ponder
 
think slowly and carefully about something
 
robust
 
strong and healthy
 
pick up
 
here - notice, identify, discover
 
a low buzz of concern
 
some anxiety
 
 
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