Sharp Global Trade Slowdown Points to Possible Recession

World trade in goods is projected to slow sharply next year under the weight of high energy prices, rising interest rates and war-related disruptions, raising the risk of a global recession, according to a new forecast.

Total exports and imports of goods are likely to grow by just 1% in 2023, the World Trade Organization said on Wednesday. That would be down from its previous forecast of 3.4% and its forecast of 3.5% for this year.

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