Eurozone first quarter economy worsens

FRANKFURT. April 8. KAZINFORM 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, Kazinform refers to Xinhuanet.

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 .2 percent in the third quarter this year, Kazinform cites Xinhuanet.