September 27, 2016

THE NEW NORMAL ANEMIA: WTO cuts 2016 world trade growth forecast to 1.7 percent, cites wake-up call.

The World Trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the United States.

The new figure of 1.7 percent, down from the WTO’s previous estimate of 2.8 percent in April, marked the first time in 15 years that international commerce was expected to lag the growth of the world economy, the trade body said.

Consumer spending hasn’t been able to drive robust growth during the current “recovery,” even with seemingly permanent low interest rates, and now the trade growth engine is faltering as well.

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