Talking about the economy in English 1

📚 Key vocabulary
GDP (Gross Domestic Product) — the total monetary value of all goods and services produced within a country's borders in a year
recession — a period of economic decline lasting at least two consecutive quarters, marked by falling output and rising unemployment
inflation rate — the percentage increase in the general price level of goods and services over a period of time
unemployment rate — the percentage of the labor force that is jobless and actively seeking work
trade deficit — when a country's imports of goods and services exceed its exports in value
austerity measures — government policies that reduce public spending and increase taxes to reduce budget deficits
quantitative easing — a monetary policy where a central bank purchases securities to increase money supply and stimulate growth
interest rate hike — an increase in a central bank's benchmark rate, typically used to control inflation
economic stimulus — government actions intended to encourage spending and investment to boost economic activity
consumer confidence index — a measure of how optimistic consumers are about economic conditions and their financial situation