After rebounding from recession in late 2001 and early 2002, the economy had a 12-month stretch in which it grew at a paltry 1.5% annual rate, sparking fears of a double-dip recession.

在2001年底和2002年初从衰退中反弹之后，经济有长达12个月的时间年增幅只有可怜的1.5%，人们不禁担心会出现二次探底。

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An implosion of the U.S. housing market, ironically overheated by a previous round of central-bank rate cuts, has slowed the world economy, sparking recessions in the United States and Europe.

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