The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as crises and challenges weigh on markets, including high energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic.
The Geneva-based trade body said Wednesday that the 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.
