WTO cuts 2013 World Trade Forecaast to 2.5%

World trade is expected to grow by 2.5 percent this year and 4.5 percent in 2014, the World Trade Organization's new chief Roberto Azevedo said on Monday, revising down previous estimates of 3.3 percent and 5 percent.

Azevedo said the figures will be detailed in a report to be released on September 19. He said the forecasts had been cut because the European Union had been expected to recover in the second quarter of this year, but was now expected to bottom out in the third quarter.

(Reporting by Tom Miles; Editing by Catherine Evans)

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Date Posted

September 09 2013