Posted by: mulrickillion | October 4, 2011

WTO | 2011 Press Releases – WTO scales back its trade forecast to 5.8% as downside risks build

WTO: 2011 PRESS RELEASES

PRESS/641

23 September 2011

PRESS RELEASE

WTO scales back its trade forecast to 5.8% as downside risks build

WTO economists announced today that they are revising their 2011 trade forecast to 5.8%, down from their earlier conservative estimate of 6.5%, since trade has grown more slowly than expected in recent months and the outlook for the global economy is increasingly uncertain. Director-General Pascal Lamy said: “The multilateral trading system has been instrumental in maintaining trade openness during the crisis, thereby avoiding even worse outcomes. Members must remain vigilant. This is not the time for go-it-alone measures. This is the time to strengthen and preserve the global trading system so that it keeps performing this vital function in the future”. . . .

WTO | 2011 Press Releases – WTO scales back its trade forecast to 5.8% as downside risks build – Press/641

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