August 15, 2019 / 1:20 PM / 3 days ago

WTO quarterly trade growth indicator drops from May

GENEVA, Aug 15 (Reuters) - The World Trade Organization (WTO) said on Thursday that its latest quarterly outlook indicator “suggests that below-trend expansion in merchandise trade will persist in the coming months”.

It showed growth in global goods trade likely to weaken, with a reading of 95.7. In its previous quarterly report in May, the WTO said that growth was likely to remain weak, with a reading of 96.3.

A score of below 100 in the indicator, a composite measure of seven drivers of trade, signals below-trend growth.

International air freight, electronic components indices now show readings well below previous levels, while automobile production and sales, and agricultural raw materials seem to have bottomed out, the WTO said. (Reporting by Stephanie Nebehay; Editing by Hugh Lawson)

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