1.Translate the following sentences into Russian, paying attention to the active vocabulary.

1. Will it be quietly forgotten in the next boom period (whenever that might be)?

2. These factors, possibly, result in the oil market amplifying the business cycle in the international economy.

3. There were some large groups of Americans who were unable to join the consumer boom.

4. German unity also seems to have disrupted the business cycle, and may limit the benefits that Europe can expect to get from recovery elsewhere.

5. This could explain the surprising (given the stage of the economic cycle we are in) recent surge in consumer durables (including cars).

6. The three big economies are at different stages of the economic cycle: while America is struggling with recession, Japan and Germany are still fighting inflation, giving rise to differences in interest-rate policies and attitudes towards the risk of inflation.

7. While the recession has reduced many families' incomes, school fees have continued to rise at about twice the rate of inflation.

8. From January through June, the GNP grew at an annual rate of only 1.1 percent, far below the 6.8 percent growth recorded for the year.

9. It would take a growth rate of 5.7 percent in the quarter to reach the administration's target for the year of a 3 percent expansion.

10. In addition to being pessimistic about growth in the current quarter, many economists have believed that the economy would slump even further in the first half of the year.

11. While yesterday's figures may indicate that the recession is bottoming out, they do not indicate, given the flatness of consumer spending, the housing market and factory output, that the recovery has begun.

12. But private analysts cautioned that much of the economy's strength was derived from a temporary surge in sales of new cars as consumers responded to attractive financing incentives.

13. Contributing to the improvement in the gross national product, a measure of the total value of a nation's goods and services, was faster growth than originally estimated in inventories and government spending.

14. When the UK economy began to turn down last summer, the Treasury relied on the technical definition that there was not a recession until there had been two successive quarters of negative growth.

15. The new GNP figure was a sharp revision from a projection last month of 3.3% for the third quarter and it was up even further from the initial estimate of a 2.8 percent rate.

2.Match each word/ phrase with its translation.

____ trade cycle ____ destocking ____ business cycle ____ inventory cycle ____ indicator ____ boom ____ capacity ____ slump ____ fundamentals ____ mortgage ____ swing ____ interest rate ____ allied industries ____ buoyant ____ construction

1) ипотека 2) основные макроэкономические показатели 3) смежные отрасли 4) процентная ставка 5) мощность 6) подъем 7) колебание 8) показатель 9) промышленный цикл 10) цикл запасов 11) строительство 12) оживленный 13) снижение запасов 14) экономический цикл 15) спад