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Overall, the good news outweighs the bad. So far, it looks likely that the U.S. economy will manage to skirt a recession this year, if just barely. The outright bust has been confined to a few sectors, such as Internet companies and telecom-equipment makers. Even though the slump in capital spending subtracted almost 2 percentage points from economic growth in the second quarter of 2001, the overall economy still managed to grow a bit. A rapid series of interest-rate cuts by the Federal Reserve has buoyed consumer spending and housing, and there is likely to be at least one more. Lower rates have offset the hit to consumers from the tech-induced decline in their stock market wealth. In short, the new sources of volatility haven’t been severe enough to drag the entire economy into recession.

The main idea of the paragraph

Despite the bust in a few sectors such as Internet companies and telecom-equipment makers, the overall economy still managed to grow a bit. And the increased spending buoyed by the interest-rate cuts by the Federal Reserve also contributed to the growth.

尽管某些部门，如网络公司和通讯设备制造商的生产出现下滑，总的来说，经济依然在增长，另外，（美）联储的降息刺激了消费，也带动了经济的增长。

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