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WTO outlook indicator shows global trade losing momentum in third quarter

Trade tensions are slowing export orders and automobile production and sales.

A cargo ship sailing through the Panama Canal. Picture: Pixabay.com

GENEVA - Global trade in goods is likely to lose momentum in the third quarter, with growth just above trend, as trade tensions slow export orders and automobile production and sales, the World Trade Organization said on Thursday.

The WTO’s quarterly outlook indicator, a composite of seven forward-looking components, showed a reading of 100.3, down from 101.8 in May and 102.3 in February, signalling “an easing of trade growth in the coming months in line with medium-term trends,” the WTO said.

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