WTO predicts trade growth to slow next year amid crises

By JAMEY KEATEN
Associated Press

GENEVA (AP) — The World Trade Organization is predicting global trade volumes to grow a lackluster 1% next year as higher energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic weigh on markets. The Geneva-based trade body said Wednesday that the total amount of goods shipped between countries are expected to rise 3.5% this year, up from the 3% that WTO anticipated in its first forecast for the year in April. Trade volumes are set to grow just 1% next year, down from the 3.4% expected previously.