European Central Bank President Lagarde stated that recent information indicates that the Eurozone economy is losing momentum, with economic growth risks skewed to the downside. Lagarde said at a press conference in Frankfurt on Thursday that in the face of weak demand and highly uncertain prospects, companies are curbing investment spending—labor demand continues to weaken, exports are also weak, and the labor market remains resilient. She stated, "Over time, the economy should strengthen, although the pace will be slower than previously expected."