所以为什么不对于零售业或者实际上对经济增长产生巨大影响呢。
So why has there not been much effect on retail sales, or indeed on economic growth?
但很明显，一旦名义利率下降到零美联储会受约束，因此经济恢复到趋趋向增长率，但不会在金融冲击下恢复所受损失。
But obviously the Fed is constrained once nominal rates hit zero, and so the economy returns to its trend growth rate but never recovers the ground lost during the financial shock.
这不完全是一种零和游戏：毕竟，全球经济目前正健康增长。
This is not quite a zero sum game: the global economy is, after all, expanding healthily at present.
商务部说，六月份美国零售额增长0.6%，几乎是经济学家预期增长率的两倍。
The Commerce Department says retail sales rose 0.6 percent in June, about twice what economists had expected.
不过，也有一些乐观指标体现了中国经济的潜在活力，包括实际零售额增长17.1%，高于8月份的16.8%。
However, there were some positive indications of underlying strength in the economy including a 17.1 per cent increase in real retail sales, up from 16.8 per cent in August.
任何银行业都要面对来自经济低增长、摩擦性通货紧缩以及利率接近零的挑战。
Any banking system would be challenged by anaemic growth, grinding deflation and interest rates close to zero. Yet their response has been timid.
一些经济学家预计，明年中国出口（以美元计算）将陷入25年来首次零增长。
Some economists reckon that next year China’s exports may see no growth (in dollar terms) for the first time in more than 25 years.
具体来说，要实现通货紧缩的日本经济其居民价格指数的年增长维持在0%-2%之间（非官方的目标为1%），零利率的政策才有可能改变。
Until deflationary Japan sees consumer prices rise by between 0% and 2% a year (with an unofficial aim of 1%), the long-standing near-zero policy rate will remain.
2010年中国经济预计增长10%左右，商品零售总额增长18.5%，内需对经济增长的贡献率在90%以上。
Estimates show that in 2010 China's economy grew by around 10 percent, and retail sales rose by 18.5 percent. Domestic demand contributed over 90 percent to China's growth.
公 司最大的亮点是零售和港口业务，两者都能从全球经济复苏和中国持续增长中获益。
The brightest spots are the retail businesses and ports operations, both of which appear set to benefit from any improvement in the global economy and China's continued resilience.
鉴于基准利率已经接近零利率水平，美联储刺激经济增长的传统手段已经基本没有施展空间了。
By cutting interest rates almost to zero, the Fed has effectively used up typical methods for stimulating the economy.
尽管现在处于不景气的经济时期，但是在线零售业仍然处于高速增长期。
Despite challenging economic times, web retail has been experiencing significant growth.
现在的日本经济增长率低，利率几乎是零，借贷市场也处于停滞状态；大约4成的公司都没有借债。
Economic growth is low, interest rates are almost zero and lending is stagnant; around 40% of Japanese listed firms are almost debt-free.
现在的经济增长过分地依赖出口，而10月份零售额的实际增长骤升至2.3%，这意味这内需会推动经济增长。
Retail sales jumped by 2.3% in real terms in October, suggesting that domestic demand may provide more thrust to an economy that is overly dependent on exports.
当然，十二五规划以内需为未来经济增长的动力，中国的零售，旅游以及娱乐等以消费者为主的行业会因此受益。
Of course, the second Five-Year Plan within the required impetus for future economic growth, China's retail, tourism and entertainment, consumer-oriented industries will benefit.
尽管中日关系仍然紧张，但日本已经积极拥抱这股旅游热潮，视之为经济增长的驱动因素，很多零售商都雇用了讲中文的销售员。
Despite continued tensions with its neighbor, Japan has embraced the tourist rush in its effort to look for economic growth drivers, with many retailers hiring Chinese-speaking sales clerks.
经济增长不是零和。
美联储的官员在一份声明中称他们认为，类似于高油价和日本天灾导致的零件供应跟不上而导致美国经济增长放缓主要问题都是暂时的。
Fed officials said in a statement that they believe the main causes of the economy's slowdown, such as high gas prices and supply disruptions from Japan's natural disaster, are temporary.
扩大消费信贷将增加高档零售业务同时增长经济型和标准品牌的零售。
Consumer credit expansion will increase upscale retail as well as value and standard retail.
美国近期发布的各项经济数据都很糟糕：新创造的就业岗位几乎为零，增长乏力，消费和工业生产疲软。
America's recent data have been lousy: there has been little job creation, weak growth and flat consumption and manufacturing production.
一些分析人士说，零售数据可能意味著消费者支出可能较预期更快地复苏并推动经济增长。
Some analysts say the figures may mean that consumer spending will recover and contribute to economic growth sooner than they expected.
当经济处于稳定状态时，由于人均产出保持不变，经济的增长率将为零。
When the economy is in a stable condition, the economic growth rate will be zero because the output per capita remains unchanged.
我们现在正在做的商业规划是在假设2002年的经济形势与现在一样严峻——经济零增长。
We're doing all our business planning assuming that 2002 stays as tough as it is right now. A zero-growth economy.
他表示，欧元区经济放缓的时间将“比预期长的多”，各国将不得不接受经济增速放缓的局面，甚至零增长。
The economic slowdown of the euro zone will be "significantly longer than we expected" and economies in general will have to accept smaller growth, possibly also zero growth, he said.
大部分的经济学家都很乐观，全球增长可能因此减慢零点几个百分点，但是还不足以威胁发达国家的经济复苏。
Most economists are sanguine: global growth might slow by a few tenths of a percentage point, they reckon, but not enough to jeopardise the rich world's recovery.
大部分的经济学家都很乐观，全球增长可能因此减慢零点几个百分点，但是还不足以威胁发达国家的经济复苏。
Most economists are sanguine: global growth might slow by a few tenths of a percentage point, they reckon, but not enough to jeopardise the rich world's recovery.
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