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WTO cuts trade growth forecast to 3.9% for 2018

By ASSOCIATED PRESS   

Economy General Manufacturing Economy manufacturing World Trade Organization WTO

Trade body predicts a further slowing of growth in volume terms to 3.7% in 2019.

GENEVA — The World Trade Organization has lowered its global trade growth forecast for this year by one-half percentage point to a still-robust 3.9%, saying increased trade tensions between large economies and heightened uncertainty contributed to the downgrade.

For next year, the Geneva-based trade body predicts a further slowing of growth in volume terms, to 3.7%.

WTO Director General Roberto Azevedo said: “While trade growth remains strong, this downgrade reflects the heightened tensions that we are seeing between major trading partners.”

The WTO cited new trade measures targeting exports from “large economies,” a clear allusion to US tensions with some key trading partners.

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