The Eurozone's economic situation further worsened in the first quarter this year, declining by some 1.9 percent compared with the fourth quarter of 2008, according to a latest survey.
The future of the overall Eurozone economy remains gloomy despite the huge stimulus package plans launched by each member state, showed the survey, conducted jointly by Ifo Institute of Germany, ISAE Economic Institute of Italy and the National office of Statistics of France.
It predicted that the Eurozone economy will decline by 0.6 percent in the second quarter and 0.2 percent in the third quarter this year.
The Eurozone is faced with a modest risk of inflation now, while deflation may emerge in the third quarter, the survey said.
The EU Statistics Office predicted on Tuesday a 1.6 percent decrease in Eurozone GDP in the last three months of 2008, which was adjusted from a previous projection of 1.5 percent.
Source: Xinhua
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