WTO cuts global trade growth forecast
Geneva, September 21, 2012
World trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization said on Friday.
The estimate was a revision of the WTO's previous 2012 growth forecast of 3.7 percent, which it made in April. It also forecast trade would expand by 4.5 percent in 2013, revised down from 5.6 percent.
"I see the risk more on the downside than the upside," WTO Director General Pascal Lamy said at a press conference in Singapore. - Reuters
More INTERNATIONAL NEWS Stories
- UK jets escort Pakistan plane, 2 arrested
- HSBC urges regulators to speed up reforms
- US sees jump in durable goods orders
- UK co-op bank halts loans to customers
- Jet Airways posts $89m quarterly loss
- Top US banks 'involved in mortgage abuse'
- UK police ponder conspiracy after soldier murder
- Truck strike may have caused US bridge collapse
- Icahn seeks up to $7bn for Dell bid
- London attacker British, of Nigerian origin
