WTO forecasts gloomy outlook

Global trade growth will be lower also in 2013

2013 April 2012 China Eurozone crisis forecasts global trade Pascal Lamy US World Trade Organization WTO

The World Trade Organization (WTO) has pointed out that it was lowering its forecasts for global trade growth: From 3.7 per cent growth projected in April 2012 to 2.5 per cent and from 5.6 per cent to 4.5 per cent in 2013. The lower figures have come following the Eurozone crisis and the economic situation in US and China. Pascal Lamy, WTO director-general, has expressed hope that the recently announced measures to reinforce the Euro and boost growth in the United States would produce results.