Eurozone economy – level 2

05-02-2024 15:00

The eurozone, a group of 20 countries, had a hard time growing its economy last year. It almost went into a recession.

Germany is a significant contributor to the euro area, but it had big problems last year. This caused the whole area to not grow much. Experts say that it is because of problems in Germany’s business and trade with other countries. The United States, another big economy, did much better. While both areas faced higher prices, the US grew by 2.5%, while the eurozone only managed around 0.5%. There were also strikes and protests about high prices, and experts think things might not get much better until 2025.

Difficult words: recession (a period when the economy is not growing), contributor (someone who takes part in something and has an impact on it), strike (when workers protest).

You can watch the original video in the Level 3 section.

What factors contributed to the slow growth of the eurozone's economy last year and what are experts predicting for the future?


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