World Trade Organization Slashes Trade Forecast

World Trade Organization reduces global merchandise trade forecast

  • The World Trade Organization (WTO) said that global merchandise trade will not grow as much as expected next year.
  • Previously, the WTO estimated in spring that global merchandise trade would grow by 3.4 percent next year but now forecasts that trade will only grow by one percent.
  • The loss in economic momentum comes amid rising interest rates, high energy prices, and a shrinking energy supply, as noted by the WTO.