WTO Cuts World Trade Growth Forecasts For 2014 And 2015

World trade in goods will grow by 3.1 percent this year, much less than the 4.6 percent forecast in April this year, the World Trade Organization said on Tuesday.

The WTO said it cut the forecast due to weak economic growth and muted import demand in first half of 2014. It added trade growth in 2015 was likely to be 4.0 percent, rather than the 5.3 percent expected in its previous forecast.

REUTERS