World Trade Organization Sees Slow Global Growth for 2012 and 2013

Financial News Network
September 24, 2012 AT 3:45 PM
Some sobering economic estimates released today. The World Trade Organization has announced its new predictions for world trade growth in 2012 and 2013, and both are being revised down.The organization sees global trade expansion in 2012 to rise only 2.5%, down from an earlier estimate of 3.7%. Additionally, they cut their prediction for 2013 from 5.6% down to 4.5%.The World Trade Organization says plans to reinforce the Euro and boost growth in the United States are welcome, but problems still remain. Unemployment in the US, debt issues in the Eurozone, and a slow down in China all contribute to the newly revised figures.