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Elementary Reading
Today's Economic News 2
Read the text and then choose the best answer for each question.
Today's Economic News
Prices Going Up
Markets are worried after seeing new price rises in the US. Prices went up by 0.5% this month, which means banks may need to increase interest rates. In Europe, rising prices are also a big problem, and the European Central Bank says it may need to take action. In the UK, prices have stayed at 3.8%, but experts say that higher energy costs could push this number up soon.
Money Markets Change
The US dollar has become stronger as investors look for safer places to put their money during uncertain times. The euro has become a bit weaker because the European economy is growing more slowly. The British pound remains stable, but experts say it could change if the government makes any big policy changes. In Asia, the Japanese yen has gone up a little because of good trade numbers.
Tech Companies Face Problems
Tech company shares have fallen this week, going down by 1.8%. This is mainly because higher interest rates could make it harder for tech companies to grow. However, some experts think tech companies will do well in the future, especially those working with artificial intelligence and cloud computing. Investors are waiting to see how much money these companies made in the last three months.
Factory Production Improves
There is some good news about factories around the world. Recent numbers show that countries are selling 4% more products to each other, especially the US and China. More people want to buy machines and cars, which has helped factories make more products. However, some companies are finding it hard to get all the parts they need to make their products.
Oil Gets More Expensive
Oil prices have gone up a lot after some countries said they would produce less oil. The price of oil increased by 2.5% to $85 per barrel. Experts say that if countries produce even less oil, prices could go up more, making it more expensive to transport goods. Oil companies are expected to make more money because of these higher prices.
1. Why did tech company shares fall?
a) because they made less money
b) because people stopped buying tech products
c) because interest rates might go up
2. Why did oil prices go up?
a) because some countries will produce less oil
b) because more people are buying oil
c) because transport costs increased
3. Which country's money became stronger?
a) Europe's
b) Japan's
c) Britain's
4. What problem are banks trying to fix?
a) slow economic growth
b) prices going up too fast
c) falling tech shares
5. Why are factories making more products?
a) because more people want to buy machines and cars
b) because parts are cheaper
c) because they have more workers
6. What does this article mainly talk about?
a) only problems in tech companies
b) only oil prices
c) changes in prices and markets around the world
