The outlook for GDP growth this year in Britain has been falling steadily. Over the last 17 months, our poll of forecasters have revised down their growth forecast from over 2% to a low of 1.5%. According to the latest quarterly economic survey by the British Chambers of Commerce, “results signal a weak and fragile recovery, with the economy still facing many risks”, reflecting questions over the government’s tax increases and spending cuts. The earthquake and tsunami in mid-March explain the sharp drop in growth prospects for Japan this year. Despite the sovereign debt crisis and questions about the effectiveness of bail-out packages, the forecast for growth in the euro area has improved. But of these four big economies, America is still forecast to have the fastest growth rate in 2011. For our complete July averages poll of forecasters,
1. outlook： n. 景色, 前景, 展望, 观点
As prices have dropped lower and lower, the outlook looks black for many companies in the city.
2. fall steadily表示缓慢下降，快速下降用fall sharply 或者后文提到的sharp drop（做名词）
3. a low of 1.5%，表示值很低，既形容了这个值又表示了这个值的确切数字，还可以凑字。
4. tax increases and spending cuts： 税收增加了，花销减少了。这种前后对称的语句很容易赢得