GENEVA (AP) — Slumping imports in China, currency market swings and falling commodities prices have led the World Trade Organization to cut its forecast for global trade in 2015 by half a percentage point.
The Geneva-based trade body projects global trade — the total of world exports and imports — to rise by 2.8 percent, down from a previous forecast of 3.3 percent.
The WTO also said in its revised forecast Wednesday that volatile financial markets and U.S. monetary policy have clouded the outlook.
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If the projections hold up, it would mark the fourth straight year that world trade grew by less than 3 percent.
