WTO lowers growth forecast for world trade

According to the dpa the World Trade Organisation (WTO) has lowered its growth forecast for global trade, predicting that in this year world trade will only increase by 3.3%.

In its forecast last September the organisation had still assumed a growth rate of 4.0% for 2015, the like of which is not expected now until 2016.

The WTO based these poorer prospects among other things on currency fluctuations and a slackening of economic growth in emerging economies, with geopolitical tensions also seen to have a negative influence.

Although it said that in the EU there are signs of a stronger economic recovery, nonetheless the growth rates are not likely to be sufficient to stimulate world trade.