The World Trade Organization has raised its outlook for global goods trade this year slightly, but cautions that increasing geopolitical tensions and uncertainty over economic policy pose “substantial” risks to its forecast.
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Max Watts, of Buford, Ga., walks in the parking lot to check on a trailer parked outside the hotel where he is riding out Hurricane Milton with coworkers, Wednesday, Oct. 9, 2024, in Tampa, Fla. Watts, who works for a towing company, was deployed with colleagues to Florida to aid in the aftermath of the storm. DEALS 4 JAX
FILE - The 'OOCL United Kingdom' container vessel is anchored at the 'Jade Weserport' container terminal in Wilhelmshaven, Germany, Tuesday, Nov. 15, 2022. – The World Trade Organization raised its outlook for global goods trade this year slightly, but cautioned Thursday that increasing geopolitical tensions and uncertainty over economy policy pose “substantial” risks to its forecast.
Still, it pointed to a 2.3% year-on-year increase in global merchandise trade in this year's first six months and noted that inflation had fallen far enough by mid-year for central banks to start cutting interest rates.
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