The Hindu Editorial (Fleeting cheer) – Sep 02, 2021

The latest GDP estimates expectedly show that national output rebounded in Q1 of the current fiscal from the record contraction in April-June 2020, when the pandemic’s onset and the lockdown gutted the economy. For further reading, visit “The Hindu”. Below is today’s word list-1 for The Hindu Editorial (Fleeting cheer) – Sep 02, 2021.

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The Hindu Editorial (Fleeting cheer) – Sep 02, 2021:

fleeting (adjective) – brief, transient, short-lived, short, momentary, sudden.
Gross domestic product (GDP) (noun) – a measure of economic activity in a country. It is the total value of a country’s annual output of goods and services.
consumption demand (noun) – the demand for goods and services by individuals and households in the economy.
fiscal (adjective) – financial.
measure (noun) – action, step, procedure.
rebound (verb) – recover, rally, pick up (from decline).
fiscal (noun) – financial year.
contraction (noun) – In economics, it refers to a decline in national output as measured by gross domestic product; economic decline (recession).
pandemic (noun) – the worldwide spread of a new disease; The illness spreads around the world and typically affects a large number of people across a wide area.
onset (noun) – start, beginning, arrival.
lockdown (noun) – an emergency protocol implemented by the authorities that prevents people from leaving from a place; An extended state of confinement/encirclement/isolation of a person by the authority.
gut (verb) – ruin, devastate, destroy, wreck, demolish, wipe out.
National Statistical Office (NSO) (noun) – The Ministry of Statistics and the Department of Programme Implementation has two wings, one relating to Statistics and the other Programme Implementation. The Statistics Wing called the National Statistical Office (NSO) gives considerable importance to coverage and quality aspects of statistics released in the country. The statistics released are based on administrative sources, surveys and censuses conducted by the Center and State Governments and non-official sources and studies.
core sector/industries (noun) – the eight industries comprising electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilizers are classified as core sector industries.
span (verb) – extend over, stretch across, spread over, range over.
gross value added (GVA) (noun) – it is a measure of total output and income in the economy. It provides the rupee value for the amount of goods and services produced in an economy after deducting the cost of inputs and raw materials that have gone into the production of those goods and services. It also gives a sector-specific picture like what is the growth in an area, industry, or sector of an economy. On the other hand, GDP or gross domestic product is a measure of economic activity in a country. It is the total value of a country’s annual output of goods and services.
aggregate (verb) – combine, consolidate, merge.
picture (noun) – impression, view/idea, notion.
preceding (adjective) – previous, prior, earlier.
quarter (noun) – a period of three months (considered as one-fourth of a (financial) year).
pre-pandemic (noun) – before the pandemic.
shy of (adjective) – less than; short of.
extract (verb) – take out by force; wrest, exact, force.
toll (noun) – adverse effect, undesirable consequence; damage, suffering, loss.
take its toll (phrase) – have a serious/adverse effect on someone/something; cause damage to someone/something; cause suffering.
utility (noun) – an organization (supplying water, gas, power & etc.).
contact intensive (adjective) – relating to the industries/sectors that have an average physical proximity index over 60. E.g. hospitality, travel, beauty and wellness, aviation etc. (Physical proximity index quantifies/measures the extent to which different occupations require physical proximity for work to be carried out).
non-contact intensive (adjective) – relating to the industries/sectors that have an average physical proximity index below 60. E.g. financial, real estate and professional services etc. (Physical proximity index quantifies/measures the extent to which different occupations require physical proximity for work to be carried out).
quarter-on-quarter (adjective) – quarter over quarter (for comparison).
front (noun) – a particular situation.
private consumption or consumption expenditure/spending (noun) – the spending by households (consumers) on goods and services, excluding new housing.
flatter to deceive (phrase) – to appear better than it really is; (someone/something) looks promising (likely to be very good or successful), but disappoints eventually.
year-on-year (adjective) – year over year (for comparison).
shrink (verb) – lessen, reduce, decrease.
disconcertingly (adverb) – unsettlingly, disturbingly, worryingly.
public expenditure/spending or government expenditure/spending (noun) – money spent by the government.
invariably (adverb) – always, every time, each time.
shore up (phrasal verb) – support, help, assist (financially); strengthen, fortify, buttress.
contract (verb) – decline, decrease, diminish, reduce.
look ahead (phrasal verb) – to think about what will happen in the future.
rather than (phrase) – instead of.
rear-view mirror-gazing (adjective/phrase) – (figuratively) relating to a person who is (always) thinking/talking about the past.
traction (noun) – popularity, acceptance; purchase, grip.
ease (verb) – lessen, reduce, decrease (the restrictions).
bright spot (noun) – something that is good (in a bad situation).
ramp up (phrasal verb) – increase (in amount or number).
vaccination (noun) – treatment with a vaccine to protect against a particular disease; immunization.
underpin (verb) – support, strengthen, reinforce, fortify.
surge (verb) – rise or increase suddenly.
short of (phrase) – less than.
borne out past participle of bear out (phrasal verb) – confirm, validate, vindicate, justify/support (a claim/fact).
Purchasing Managers’ Index (PMI) (noun) – Purchasing Managers Index (PMI) is a monthly business survey data provided by IHS Markit. The monthly data are derived from surveys of senior executives at private sector companies. PMI data is used for accurate and timely insight into the health of a particular economy. The PMI data are used by financial and corporate professionals to better understand where economies and markets are headed, and to uncover opportunities.
index (noun) – an (economic) data figure reflecting something (e.g. price/quantity) compared with a standard or base value; pointer, indicator.
IHS Markit (noun) – it is a global leader in information, analytics and solutions for the major industries and markets that drive economies worldwide. It partners with clients in business, finance and government to help them see the big picture with unrivaled insights that lead to well-informed, confident decisions.
albeit (conjunction) – though, even though, however.
point to (verb) – indicate, suggest, denote.
prospect (noun) – chance, possibility.
dampen (verb) – decrease, diminish/lessen, reduce.
tenuous (adjective) – slight, insubstantial, negligible, weak/shaky; doubtful, dubious, questionable, vague, unspecific, indefinite.
lingering (adjective) – continuing, remaining, long-lasting, unabating, prolonged, persistent.
uncertainty (noun) – unpredictability, unreliability, riskiness, unsureness, indecision.
lead to (verb) – result in, cause, bring on.
freeze (verb) – stop.
deficit (noun) – shortfall, deficiency, shortage.
downturn (noun) – (economic) decline, setback, blow; recession, depression, slump, slowdown.
laser-focused (adjective) – giving 100% attention.
expedite (verb) – speed up, accelerate, step up, quicken.