06 Oct, 23

WTO Forecasts Global Trade Slowdown Amid Economic Headwinds

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One day after the Geneva-based UN Conference on Trade and Development (Unctad) warned central banks are at risk of triggering a full-blown global recession in their pursuit of higher interest rates to reach their 2% inflation targets, World Trade Organization economists published a report on Thursday morning outlining global growth will be sharply lower than forecasted for the remainder of 2023. WTO economists said world trade and output began to slow in the fourth quarter of 2022 due to the Federal Reserve’s tighter monetary policy and tighter…

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