Global trade likely to remain weak: ECB | The Daily Star
12:00 AM, August 06, 2019 / LAST MODIFIED: 12:07 AM, August 06, 2019

Global trade likely to remain weak: ECB

Global trade is likely to pick up only gradually in coming quarters and will remain weaker than overall economic activity, the European Central Bank said on Monday.

Weak foreign trade has been the biggest drag on global growth for much of the past year as the US-China tariff war sapped confidence and held back investment, particularly in manufacturing. “Despite some signs of recovery, global trade is likely to remain more subdued than activity in coming quarters,” the ECB said.

“Downside risks to the outlook for trade have partially materialized in recent months due to the implementation of higher tariffs, and the threat of a further escalation of trade tensions persists.”

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