VOA慢速英语2009-Economics Report - Keeping a Close Eye on Those

This is the VOA Special English Economics Report.

Signs that the recession is easing in the United States have led to a lot of talk about "green shoots." That means early signs of economic recovery, like the way plants begin to shoot up from the ground as a sign of spring. But the extent to which economic green shoots can be found depends on where you look.

Housing prices, economic activity and employment are down across the United States. But the recession which began at the end of two thousand seven has not hurt all fifty states equally.
　
Ben Bernanke speaking to lawmakers on Tuesday

Federal Reserve Chairman Ben Bernanke sounded more hopeful as he appeared Tuesday before the Joint¹ Economic Committee in Congress. He said, "We continue to expect economic activity to bottom out, then to turn up later this year."

A big part of this prediction is based on signs that the housing market is beginning to improve. Falling prices have produced better deals for buyers, and this has helped the demand for housing. But the central bank chief warned that credit for home buying remains² limited and dependent on government-supported programs.

Home prices in western states have fallen a long way and have continued to fall. Prices in Phoenix³, Arizona, are now fifty percent below their highest levels of three years ago. But sales in the West increased by nineteen percent in March from a year before.

Sales of existing homes fell in other parts of the country. The National Association of Realtors reported the biggest decrease in the Northeast. There, sales fell by nineteen percent from a year ago.

In terms of unemployment, the troubles of the Detroit auto⁴ industry have hit Michigan in the Midwest especially hard. Its jobless rate was almost thirteen percent in March, the highest of any state. But western states had the highest rate as a group, almost ten percent.

Ben Bernanke expects a slow recovery, mainly because businesses are likely to limit hiring. So unemployment rates could rise even as the economy starts to recover. He also warned that the recovery could be threatened if any new problems hit the financial system.

Central to any recovery are the nation's banks. Late Thursday, the government released the results of a special examination, so-called stress tests, of the nineteen largest banks. Some will be required to raise billions of dollars of additional capital. This is meant to protect against possible losses should anything unexpected crush those green shoots in the world's largest economy.

And that's the VOA Special English Economics Report, written by Mario Ritter.

1 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

2 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

3 phoenix   

n.凤凰，长生(不死)鸟；引申为重生

参考例句：

• The airline rose like a phoenix from the ashes.这家航空公司又起死回生了。
• The phoenix worship of China is fetish worship not totem adoration.中国凤崇拜是灵物崇拜而非图腾崇拜。

4 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。