WTO downgrades trade growth estimates

FXstreet.com (Barcelona) - According to estimates released today by the World Trade Organization, global trade is expected to expand by 2.5% this year, down from the previous projection of 3.3%. The 2014 forecast has also been lowered from 5% to 4.5%.

WTO´s new head Roberto Azevedo explained that the predictions had been lowered due to the persistent weakness of the EU economy and that more details will be given in a report which will be published on September 19.