World Trade Organization slashes trade growth estimate

MG News | October 01, 2019 at 04:06 PM GMT+05:00

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October 1, 2019: The World Trade Organization on Tuesday cut its 2019 trade growth forecast to 1.2 percent, a sharp downgrade on the 2.6-percent rise predicted in April, which the body blamed on escalating trade tensions.

"The darkening outlook for trade is discouraging but not unexpected," WTO director general Roberto Azevedo said in a statement, blaming "trade conflicts (that) heighten uncertainty."

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