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经济预测师们普遍预计,2010年将是经济温和增长的一年,增幅约为3%,大大好于此前两年。
The connsus of economic forecasters expects 2010 to be a year of modest economic growth -- almost 3% -- much better than the previous two years.
但是,这还没有好到将失业率降到衰退前的水平。而失业率一直是经济面临的最大持续性威胁。
But that's not good enough to bring unemployment -- the gre文化遗产作文
atest continuing threat to the economy -- clo to pre-recession levels.
普遍预期在某些方面几乎总是有错误的;问题在于,经济会在哪些方面让我们出乎意料。
这在很大程度上取决于雇主将会招聘多少人。
The connsus is almost always wrong in some respect; the question is in which respects the economy will surpri us. A lot rides on how much hiring employers do.
以下是其它三大变数。
Here are three of the other big variables.
企业投资即将反弹。80年属猴的是什么命
会吗?
Business investment is primed to rebound. Will it?
经济衰退对消费者支出的打击引来了企业更严重的下滑。
The pullback from consumers spooked by an economic downturn spurred an even sharper withdrawal by business.
经济衰退期间的资本支出降幅超过了大萧条以来的任何时期。
Capital spending tumbled during the recession more than it had at any time since the Great Depression.
这意味着它有足够的空间恢复,如果企业能变得更加自信的话。
That means it has plenty of room to recover, if business can grow more confident.
企业的资产负债表总体看好。企业利润上升、资本成本下降、生产力表现强劲。
Business balance sheets overall look promising. Corporate profits are up, the cost of capital is down and productivity is strong.
企业有充足的资金进行从机械到软件等各方面的投资。
Firms have plenty of funds to finance investments, from machinery to software.
反映企业外部融资额的指标公司资金缺口从今年第二季度的负1,530亿美元变为第三季度的负1,890亿美元。
The corporate financing gap, a reflection of how much firms must rai externally, hit a negative $189 billion in the third quarter from a negative $153 billion in the April-June period.
负的融资缺口意味着企业有内部资金支持它们的资本支出。
A negative financing gap means companies have the funds in hou to s抗击新冠肺炎
upport their capital expenditures.
Investment Technology Group Inc.的首席经济学家巴伯拉(Robert Barbera)说,与美国的家庭状况不同,企业领域处于极好的财务状况中。
'Unlike the houhold ctor, the corporate ctor is in三合贵人什么意思
excellent fiscal condition,' says Robert Barbera, chief economist at Investment Technology Group Inc..
企业创造出的资金远远超过了它们的投资额。
Business are wildly generating more money than they're using to invest.
如果消费者支出不出现温和改善,资本支出不可能实现持续反弹。
A sustained rebound in capital expenditures can't occur without a modest improvement in consumer spending.
但是,在过去1年大幅削减支出后,企业被压抑的需求可能对让经济获得复苏所需的速度至关重要。
But pent-up dema个人承诺书
nd by business, after slashing expenditures sharply in the past year, could prove critical in giving the economy the velocity it needs to recover.
经济学家们都在指望资本支出的一些改善的迹象。在这方面,我们可能会在2010年看到出乎意料的上升。
Economists are on counting on some improvement in capital spending. On this front, we could e an upside surpri in 2010.
房地产市场会否康复?
Will housing heal?
房地产行业的麻烦显然正在缓和。但房主、贷款机构和建筑商在恢复信心前还有很长的路要走。
Trouble throughout the housing ctor clearly is abating. But homeowners, lenders and builders have a long way to go before regaining confidence.
房价的暴跌可能导致消费者减少消费,面临贷款损失的银行也会降低放贷额。
Sharp home-price declines can lead consumers to spend less and banks, hit by loan loss, to lend less.
虽然价格下降最严重的时期似乎已经过去,但预计全国的房价在2010年只会出现小幅上涨。
While the worst of the price drops appear to be over, home values nationwide are expected to show tiny gains -- if any -- throughout 2010.
据抵押贷款银行家协会说,到第三季度末,4.5%的贷款处于止赎程序中,高于上年同期的3%。
At the end of the third quarter, 4.5% of loans were in the foreclosure process, up from 3%
a year earlier, according to the Mortgage Bankers Association.
此外,在所有贷款中有9.6%至少出现过一次逾期还款。除非失业率大幅下降,房地产市场将难以出现好转。
On top of that, 9.6% of all激励的句子
loans had at least one past-due payment. Until the unemployment rate recovers substantially, improvement will be elusive.
所有这一切都意味着有更多的房屋进入市场,进而压低房价。
All of that means more homes coming on the market, pushing values lower.
奥沙利文(Jim O'Sullivan)说,市场上仍有大量过剩房屋。由于供房没有那么难了,我们将会慢慢消化这些过量供应,不过不管怎样,房屋仍旧严重过剩。
'There still is a huge, huge excess of homes,' says Jim O'Sullivan. Due to better home aff难忘的事情
ordability 'you're going to eat into that glut over time, but nonetheless there
房屋销售最近出现好转,主要原因是美联储收购抵押贷款证券带来的较低的抵押贷款利率,以及对买房人的联邦减税措施。
Much of the recent improvement in sales is due to low mortgage rates, spurred by the Federal Rerve's purcha of mortgage curities, and a federal tax credit for home buyers.
这两项措施都将于明年年中之前到期。届时,房屋销售活动将会受到冲击。
Both measures are t to expire by the middle of next year. When they do, sales activity will take a hit.
楼市的一个领域可能会显示出一些希望。经济低迷时期住宅投资大幅下滑,已经没有进一步下降的空间了。
One area of housing could show some hope. Residential investment fell so sharply during the economic downturn that it has little room to decline further.