The World Trade Organization slashed its global merchandise trade forecast for this year to the lowest in a decade citing escalating trade disputes and slowing global growth.
In its latest report, released Tuesday, the WTO said global trade volume will expand 1.2 percent this year, which was well below the April projection of 2.6 percent. The growth is forecast to improve next year, to 2.7 percent but down from 3 percent estimated in April.
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