BBC UK
•Why US economy is powering ahead of Europe's
76% Informative
In terms of GDP, the US posted a 3.3% gain in the fourth quarter of 2023 , far exceeding economists' expectations of 2% . That put the US at 2.5% over the course of the year , outpacing all other advanced economies and on track to do so again in 2024 .
Experts say there are several reasons why the US is outperforming other nations.
The impact of the Ukraine war on energy prices was a lot worse in Europe than in the US , says Ben Westmore .
Gas prices in Europe between early 2021 and 2022 shot up by something close to 20% , he says.
European countries have seen not only a bigger increase in prices, but also a greater propensity for businesses to pass on to consumers.
VR Score
88
Informative language
93
Neutral language
72
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informal
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English
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47
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