That is because some parts of the economy confront the energy shock from a position of strength, rather than weakness.

这是因为，在对抗能源冲击时，部分经济领域处于优势而非劣势地位。

At the end of last year, when many expected a European downturn, monetary tightening had yet to hit the economy and national governments offered generous handouts in order to counteract the energy shock.

去年年底，当许多人预计欧洲经济将陷入低迷时，货币紧缩政策尚未打击到经济，各国政府提供了慷慨的救济，以抵消能源方面的冲击。