WTO says global trade growth to weaken more in Oct-Dec 2018

Geneva: Global trade growth will continue to decelerate in the final quarter of 2018, the World Trade Organization said. Further “moderation” in WTO trade growth projections is due to an overall decline in export orders, the WTO said in its latest World Trade Outlook Indicator report released on Monday.

Production and sales of automobiles, electrical components and agricultural raw materials are below trend, according to the report.

The Geneva-based trade body previously warned that an array of trade conflicts is affecting business confidence and investment decisions.

The report comes two months after the WTO cut its outlook for global commerce through 2019 and warned that tension between major trading partners increasingly threatens economic growth.

The WTO in September said it expects world merchandise trade growth will slow to 3.9% this year and 3.7% next year, compared with 4.7% in 2017.

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