Standard and Poor's slash growth forecast25/09/2012 - 14:32:31
Standard and Poor's has slashed its eurozone growth forecasts and now expects a slightly stronger economic contraction this year.
The international ratings agency says business activity is likely to decline by 0.8% across the 17-nation bloc, rather than by 0.7% - its previous forecast issued in July.
For 2013, the ratings agency expects the eurozone economy to record no growth, revising the earlier outlook for a slight expansion of 0.3%.
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