五月份挖掘机销售量同比下降10%，可能预示着建筑行业的不景气。

Excavator sales fell 10 percent in May from a year earlier, possibly foreshadowing a construction bust.

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因此，资本需求在景气时增加，不景气时则下降。

Hence capital requirements should rise during booms and fall in busts.

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尽管过去两年中欧洲大国的呆坏账大幅下降，但是仍有不少投资者担心经济不景气，呆坏账会再次回升。

Bad loans in big European countries have been remarkably low over the past two years, yet many investors fret that they will rise in a downturn.

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