World Trade Organization Slashes Trade Forecast
World Trade Organization reduces global merchandise trade forecast
View Source | October 5, 2022 5:20 pm
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- 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.
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