The WTO said its goods trade barometer stood at 100.6 points, close to the baseline of 100 and barely changed from the level reported in November.
The Geneva-based trade body said the reading continued to signal weak upward momentum after merchandise trade declined by 0.4% in the third quarter of 2023 from the second and by 2.5% year-on-year.
The WTO said the barometer’s component indices were mostly neutral, but automotive production and sales were above trend and electronic components trade below.
The goods trade barometer is a composite of data and is designed to anticipate turning points and gauge momentum in global trade growth rather than to provide a specific short-term forecast.The WTO has already said that its estimate of goods trade growth in 2023 of 0.8% will need to be revised down.
