GENEVA, Switzerland — The World Trade Organization (WTO) raised its outlook for global goods trade this year slightly, but cautioned on Thursday that increasing geopolitical tensions and uncertainty over economy policy pose 'substantial' risks to its forecast.
GENEVA, Switzerland — The World Trade Organization raised its outlook for global goods trade this year slightly, but cautioned on Thursday that increasing geopolitical tensions and uncertainty over economy policy pose 'substantial' risks to its forecast.The Geneva-based WTO projected that global goods trade will increase by 2.7 percent this year, compared with the 2.6 percent it forecast in April. But it predicted growth of 3 percent next year, down from the 3.
'Still, it pointed to a 2.3-percent year-on-year increase in global merchandise trade in this year's first six months and noted that inflation had fallen far enough by mid-year for central banks to start cutting interest rates.
Slightly Raises 2024 Goods Trade Forecast
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