• IS provokes sea-change

    It has been a grave mistake to defy both Russia and France, says Leopold Scholtz.

  • Nene's SAA nemesis

    No political figure seems to have the guts to speak out against Dudu Myeni, says Solly Moeng.

  • The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

All data is delayed
See More

WTO cuts global trade forecast

Sep 21 2012 11:47

Singapore - The World Trade Organisation (WTO) on Friday slashed its 2012 global trade forecast to 2.5% from 3.7%, citing the eurozone debt crisis as a key factor behind the downgrade.

The sputtering US economy and a slowdown in China were other factors dragging down global trade, the Geneva-based body said.

"The global economy has encountered increasingly strong headwinds since the last WTO Secretariat forecast was issued," the WTO said in a press statement released in Singapore.

"Output and employment data in the United States have continued to disappoint, while purchasing managers' indices and industrial production figures in China point to slower growth in the world's largest exporter.

"More importantly, the European sovereign debt crisis has not abated, making fiscal adjustment in the peripheral euro area economies more painful and stoking volatility."

In April the WTO had warned that world trade growth, which slowed in 2011 after a big rebound in 2010, would weaken again this year.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

wto  |  global trade



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote