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  • Part 1: You Will Hear A Short Extract About The US Consumers. Write NO MORE THAN THREE WORDS For Each Blank

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    Mai Quỳnh Anh
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    Consumer spending, which makes up around 70% of economic activity in the US, encompasses a wide range of goods and services purchased by US residents. Consumer spending has been the ballast and stability for the US economy during its current economic expansion, the longest in history. While consumer spending slowed in late 2019, it has continued to increase steadily in 2020. However, weak consumer spending could harm the larger economy through layoffs and cost-saving measures by companies if consumers shop less and there is less purchasing power.

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    Consumer spending, which makes up around 70% of economic activity in the US, encompasses a wide range of goods and services purchased by US residents. Consumer spending has been the ballast and stability for the US economy during its current economic expansion, the longest in history. While consumer spending slowed in late 2019, it has continued to increase steadily in 2020. However, weak consumer spending could harm the larger economy through layoffs and cost-saving measures by companies if consumers shop less and there is less purchasing power.

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    13 views2 pages

    Part 1: You Will Hear A Short Extract About The US Consumers. Write NO MORE THAN THREE WORDS For Each Blank

    Uploaded by

    Mai Quỳnh Anh
    Consumer spending, which makes up around 70% of economic activity in the US, encompasses a wide range of goods and services purchased by US residents. Consumer spending has been the ballast and stability for the US economy during its current economic expansion, the longest in history. While consumer spending slowed in late 2019, it has continued to increase steadily in 2020. However, weak consumer spending could harm the larger economy through layoffs and cost-saving measures by companies if consumers shop less and there is less purchasing power.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    Part 1: You will hear a short extract about the US consumers.

    Write NO MORE THAN THREE WORDS


    for each blank.

    https://www.youtube.com/watch?v=7Zw0Eook7WI

     Consumer spending, or (1) ______________________ is the value of the goods or services


    purchased by or on behalf of US residents, makes up around 70% of (2) _______________ in the
    US.
     Consumer spending encompasses a range of products, services and goods like clothing, health
    care, cars, experiences, travel, gasoline, (3) ____________. So it’s a (4) ________________ of
    different types of spending.
     The strength of the US consumer is one major component of this long-lived market. US
    consumer has been the (5) ___________ and the stability in term of keeping the cycle afloat.
     With the US recently riding the 10 th year of the (6) ___________________________ in history,
    CEOs and strategists have had a (7) _______________________ in an attempt to explain why we
    haven’t sunk into a recession.
     Although consumer spending started to slow down in the last half of 2019, it’s increasing stably
    into 2020. And the price is a large element. Consumer spending could be strongly affected by
    inflation, happening when prices rise and the (8) ____________________ of a specific currency
    reduces.
     Companies will profit less if consumers shop less, which results in (9) ___________ and other
    (10) __________________ that harm the larger economy.

    KEY
    1. Personal consumption expenditure
    2. Economic activity
    3. Leisure
    4. Panoply
     Panoply /ˈpæn.ə.pli/ (n): a wide range or collection of different things

    5. Ballast
     Ballast /ˈbæl.əst/ (n): something that helps someone or something
    to succeed, especially by keeping them or it under control, or making them or it
    more serious

    6. Longest economic expansion


    7. Mantra
     Mantra (n): a word or phrase that is
    often repeated and expresses a particular strong belief
    8. Purchasing power
    9. Layoffs
     Layoff (n): [ C oft en plural ]
    an occasion when a company stops employing someone, sometimes temporarily, because
    the company does not have enough money or enough work

    10. Cost-saving moves

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