“Why did Europe’s economic progress slow down by the early 14th century”? Give reasons?

Europe’s economic progress slowed down due to the following reasons:

• The warm summers of the last 300 years had given way to bitterly cold summers in Northern Europe by the end of 13th century. It became quite difficult to grow crops on higher ground. Storms and flood destroyed the entire crops, which resulted into less income in taxes for government.
• Before thirteenth century, the climatic conditions had led to the large scale reclamation of the land of forests and pastures for agriculture. Intensive ploughing had exhausted the fertility of soil. The shortage of pastures reduced the number of cattle. Europe was hit by severe famines between 1315 and 1317. By 1320s, there occurred massive cattle
• deaths.
• Trade was hit by a severe shortage of metal money because of the shortfall in silver mines in Austria and Serbia. It forced the governments to reduce the silver content of the currency , and to mix it with cheaper metals.
• With the expansion of trade in the thirteenth and fourteenth centuries, ships carrying goods from distant countries had started arriving in European ports. Along with the ships came rats with deadly bubonic plague infection (the Black Death). Western Europe was isolated in earlier centuries, but was hit by the epidemic between 1347 and 1350.
• As a result, the trade centers and cities were hit. In enclosed communities like monasteries and covents, when one individual contracted the plague, a lot of people got affected to it. The plague took its worst toll among infants, the young and elderly.