Newspaper item 2: uk gdp

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UK GDP – revised figures for the second quarter show annual growth of 1.2 per cent.

On the surface, the GDP downgrade from a preliminary 1.5 per cent growth rate throws up worrying questions about the manufacturing recovery.

Most of the downgrade results from lower-than-expected industrial output in June. But that was probably caused by the jubilee holidays. In June, UK exports fell 9 per cent, possibly reflecting a lurch downward in the global economy. And retail sales in July remained tepid. But manufacturing confidence – while still timid – is improving and has shown the first positive quarterly rise since the end of 2001. In the sluggish global context, these are not trends to be dismissed lightly.

Wordlist

annual		годовой
downgrade		снижение, понижение
preliminary		предварительный
recovery		оживление, подъем, восстановление
lurch		крен
retail		розничный
sluggish		застойный (характеризующийся отсутствием экономической активности)

Newspaper item 3: Asian Consumers Upbeat on Economic Prospects

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Consumers in China, Korea and Thailand and across much of Asia remain surprisingly upbeat about economic prospects, according to a consumer confidence survey released yesterday by MasterCard International.

The biannual survey of about 4,500 people across Asia, conducted in June, found that people in many Asian countries – notably Korea and Thailand, which are currently enjoying a widespread boom – are confident of their economic prospects in the next six months. The survey suggests that consumer confidence and domestic consumption in Asia could prove more resilient to a slowdown in the US than in the past.

Nine countries in Asia showed 'positive sentiment scores', including ratings of 76.5 in Korea, 74.0 in Malaysia and 73.9 in Thailand. China's score of 73.6 is a drop from its highest ever score of 84.8 six months ago, but consumer confidence in the populous nation remained strong.

Zero is the most pessimistic while 50 is neutral and 100 the most optimistic.

The picture is gloomier in Japan and Hong Kong. Japan's rating of future economic prospects was 23.5 while Hong Kong scored 13.9. The authors said this was a function of their much higher living standards than the rest of Asia.

Newspaper item 4: Green Shoppers are Growing in Number

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When Philips produced its first eco-friendly light bulb it had high hopes for the product, whose technology meant it used 75 per cent less energy than incandescent bulbs. Sales failed to take off, however, until the Californian energy crisis hit.

The company redesigned the product – with a standard screw base and a traditional glass bulb shape instead of unorthodox looking tubes. It changed the name from Earthlight to Marathon, and played down the environmentally friendly aspects of the bulb, stressing its longer life. Sales took off immediately.

The story sheds light on consumer attitudes to environmentally friendly products. While green shoppers are growing in number, they remain a niche of younger, affluent buyers. Most are not prepared to buy green products unless they are superior and cheaper. Consumers are more influenced by the image they have of companies than the individual goods they buy.

A US market research company found that only 29 per cent of participants had recently bought a product because the label claimed it was environmentally safe or biodegradable.

Wordlist

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