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WTO Says Global Trade in Its Worst Year Since Financial Crisis

  • Organization cuts trade projections for this year and 2017
  • WTO cites weaker growth in key regions, rising protectionism

Global trade will expand at the slowest pace since the financial crisis this year, the World Trade Organization said, as weakness in key regions and rising protectionism take a toll.

The Geneva-based organization forecasts that trade will expand 1.7 percent in 2016, down from an April estimate of 2.8 percent. It predicts real GDP growth of 2.2 percent, marking the weakest performance since 2009.