WTO cuts 2016 global trade growth forecast to 1.7%
The World Trade Organization on Tuesday cut its forecast for global trade growth in 2016 to 1.7%, down from its April estimate of 2.8%. This would be the slowest pace of trade and output growth since the 2009 financial crisis. Further, the WTO has projected 1.8-3.1% growth in global trade in 2017, as against its earlier forecast of 3.6%.