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Revised numbers released Thursday show the U.S. economy shrank in the first quarter, marking the first downturn since early 2011. |
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Gross domestic product, the broadest measure of economic growth, fell at a one-percent annual pace, according to the Bureau of Economic Analysis. |
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週四發布的修正數據顯示美國經濟在第一季減縮，是二０一一年初以來首次走下坡。經濟分析局指出，國內生產毛額這項最廣泛的經濟成長衡量指標，以一年百分之一的幅度下滑。 |
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The slump was entirely expected, and economists aren't too worried. |
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They forecast a bounce back in the spring. |
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經濟的衰退完全在預期當中，不過經濟學家並不太擔心。他們預測春季會出現反彈。 |
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Take for example Joseph Lavorgna, chief U.S. economist at Deutsche Bank. |
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He predicts the economy will rev up, growing at more than a four-percent pace in April through June. |
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In a note to clients this week, he cautioned investors not to worry if the first quarter numbers were lousy. |
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以德意志銀行的美國首席經濟學家喬瑟夫．拉沃納為例，他預測經濟將會提振，在四至六月期間以超過百分之四的幅度成長。在本週一份發給客戶的短箋當中，他提醒投資人不必為了第一季的數據不佳而擔心。 |
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The January through March period tends to be the slowest for growth, he noted, and this year, colder-than-usual weather stunted retail sales, international trade and the housing market. |
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Businesses also cut back on investments in new equipment and buildings, and state and local governments reduced their spending. |
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一到三月通常是成長速度最緩慢的時期，他指出，今年異乎尋常的寒冷天氣更阻礙了零售業績、國際貿易與房市。企業也削減了新設備與新建築的投資，而且州政府與地方政府也減少了支出。 |
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The downward GDP revision came primarily from a decline in business inventories, meaning companies weren't quick to restock their shelves or stockpile goods to prepare for future sales. |
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國內生產毛額向下修正主要是來自於商業庫存量的下滑，也就是說企業並不急於為貨架補貨或囤積商品以因應未來銷售。 |
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Stuart Hoffman, chief economist for PNC Bank, points to the auto sector as an example. |
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When snow and ice kept customers away from auto lots in the winter, automakers slowed their production lines. |
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PNC 銀行首席經濟學家史都華．霍夫曼舉汽車業為例。冬天由於冰雪遏止了顧客前往汽車展示中心，因此車廠也就減緩了生產線的運作速度。 |
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"There were too many unsold cars on the lot, so they cut production, and that holds the economy back," Hoffman said. "Now those cars are selling again and production will come back." |
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「車場還有太多尚未賣出的車，所以他們減少產量，於是就阻礙了經濟成長，」霍夫曼說：「現在，汽車的銷售情形已經改善，產量也將會跟著提高。」 |
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