您现在的位置: Language Tips> Audio & Video> Normal Speed News  
   
 





 
US consumer spending, pending home sales rise; incomes fall
[ 2009-08-05 13:35 ]

codebase="http://activex.microsoft.com/activex/controls/mplayer/en/nsmp2inf.cab#Version=6,4,5,715"

standby="Loading Microsoft Windows Media Player components...">

pluginspage="http://www.microsoft.com/isapi/redir.dll?prd=windows&ampsbp=mediaplayer&ampar=media&ampsba=plugin&"

name="MediaPlayer" volume="80" autostart="0">

Download

US consumer spending, pending home sales rise; incomes fall

American consumers spent more and saved less while their incomes fell, according to the latest U.S. government figures. Meanwhile, America's housing market is showing continued signs of possible recovery.

Consumer spending accounts for more than two-thirds of U.S. economic activity, making it one of the most closely watched economic indicators. The Commerce Department reports that the Americans boosted spending 0.4 percent in June - slightly more than what economists had expected. It was the second consecutive monthly rise in consumer spending, and it was accompanied by a lower savings rate.

Americans spent more despite lower incomes. Personal income fell 1.3 percent - the largest monthly drop in four years. The decline reversed a 1.3 percent increase in personal incomes in May that economists attributed to special payments the government made to try to revive the economy.

But PNC Financial Services Group economist, Robert Dye says there might be better times ahead.

"As we get well into the third quarter and the fourth quarter [of this year], we will start to see income numbers stabilize as job losses stabilize and hopefully swing back to positive by the end of the year and these spending numbers start to firm up a little bit," he said.

In recent days, many Americans have been spending on new cars - nearly exhausting a $1 billion federal program that pays consumers up to $4,500 to trade in old vehicles for new, more fuel-efficient ones.

Vice President Joe Biden: "The 'Cash for Clunkers' program has been an unqualified success.It has boosted demand for cars and spurred consumer spending."

Senate Majority Leader Harry Reid is expressing confidence that the Senate will approve a $2 billion extension of the program.

Last week saw a boost in existing home sales in the United States. Now there is word that pending home sales are also up for the fifth consecutive month - a sign that the long-awaited recovery in America's battered housing sector might continue.

Walter Maloney is a spokesman for the National Association of Realtors, which tracks home sales.

"Home sales should continue to gradually trend upward over the course of the year," he said. "We have got a great surge at home, affordable prices and historically-low interest rates."

Sharply declining housing values and a rash of home foreclosures in 2007 and 2008 were blamed in large part for triggering the U.S. financial crisis and helping to plunge the nation into the longest recession since World War II. A rebound in the housing sector is seen as one key to an overall economic recovery.

trade in: 以旧换新,折价贴换

clunker: 破烂的机械(尤指汽车);旧车

Related stories:

Jump in US home sales reported

US economy slowly improving, challenges remain

Keeping a close eye on those 'green shoots'

US homeless problem made worse by bad economy

(Source: VOA 英语点津编辑)

英语点津版权说明:凡注明来源为“英语点津:XXX(署名)”的原创作品,除与中国日报网签署英语点津内容授权协议的网站外,其他任何网站或单位未经允许不得非法盗链、转载和使用,违者必究。如需使用,请与010-84883631联系;凡本网注明“来源:XXX(非英语点津)”的作品,均转载自其它媒体,目的在于传播更多信息,其他媒体如需转载,请与稿件来源方联系,如产生任何问题与本网无关;本网所发布的歌曲、电影片段,版权归原作者所有,仅供学习与研究,如果侵权,请提供版权证明,以便尽快删除。
相关文章 Related Story
 
 
 
本频道最新推荐
 
六成美国人支持二战时向日本投原子弹
Drunk sexcapades
财富效应 wealth effect
10 killed in Chongqing storms
英青少年发“性短信”渐成风
翻吧推荐
 
论坛热贴
 
how to translate "死猪不怕开水烫"?
这些英文表达 搞错很尴尬
“形散而神不散”如何翻译?
"街拍“怎么翻译
阿甘正传经典语录