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
- Netanyahu hints at further strikes in Syria
- $590m jackpot winning ticket sold in Florida
- Texas joins flood of states suing BP
- Switzerland close to deal in US tax dispute
- Israel warns against Russia arms supply to Syria
- Yahoo! may buy Tumblr for $1.1bn
- US orders Canadian bank to revise laws
- Talks unlikely to succeed says Assad
- IILM seeks dealers for sukuk issue
- Severn Trent rejects $7.2bn Kuwait bid offer
