| 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.
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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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