Slowing export orders and car sales will contribute to slower trade expansion in the third quarter of this year, according to the World Trade Organization, which said the decline could increase trade tensions. The World Trade Outlook Indicator said its WTO was consistent with previous forecasts and showed merchandise trade growth slowing from 4.7% to 4.4%. The only index that rose was for agricultural raw materials. Forecasts for electronic components, cars, container port throughput and air freight remained the same or were slightly downgraded. The World Trade Outlook Indicator warned the recent escalation of trade restrictions was a serious risk to the economy.
Slowing export orders and car sales will contribute to slower trade expansion in the third quarter of this year, according to the World Trade Organization, which said the decline could increase trade tensions. The WTO said its World Trade Outlook Indicator was consistent with previous forecasts and showed merchandise trade growth slowing from 4.7% to 4.4%. The only index that rose was for agricultural raw materials. Forecasts for electronic components, cars, container port throughput and air freight remained the same or were slightly downgraded. The WTO warned the recent escalation of trade restrictions was a serious risk to the economy.