New York -- The European Union's statistical office Eurostat said inflation was stable in the first quarter, but productivity had declined substantially.
Inflation held close to even, at 0.6 percent in April, unchanged from a month earlier.
But Eurostat said Friday the gross domestic product for the Euro area and the 27 countries known as the EU27 had dropped by 2.5 percent in the first quarter, compared to the fourth quarter of 2008. Compared to a year ago, the GDP has dropped 4.6 percent in the Euro area and 4.4 percent in the EU27, which adds Sweden, Britain, Bulgaria, the Czech Republic, Denmark, Lithuania, Estonia, Latvia, Hungary, Poland, and Romania to the Euro area's 16 states.