WTO sees sharp slowdown in global trade, pointing to possible recession and lower inflation

Global trade in goods is expected to slow sharply next year, possibly mitigating high inflation but increasing the risk of a global recession, according to a new forecast.

Soaring energy costs and rising interest rates are weakening household demand around the world, a dynamic that could cause exports and imports to increase by just 1% in 2023, the government said on Wednesday. World organization of commerce. That’s down from a previous forecast of 3.4%.


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