According to some analysts, the gains in the stock market reflect growing confidence that the economy will avoid the recession that many had feared earlier in the year and instead come in for a “soft landing,” followed by a gradual increase in business activity.
the economy will avoid the recession that many had feared earlier in the yearand instead come in for a “soft landing”.
句子中出现表日期或其它时间基准的词语时,past perfect tense也是可以的,其含义是动作发生在这个时间基准之前。
比如by the end of the October Revolution, ....; by 2000, ...; 以及本句中的earlier in the year.