Daily Management Review

WTO: World economy will unlikely grow in Q3 2023


However, the World Trade Organization secretariat reported that the second quarter's goods trade was better than in the first three months.

Although commerce in products improved in the second quarter compared to the prior three months, sustained global economic growth in the third quarter of this year seems improbable. Such a prediction was given by the World Trade Organization (WTO) Secretariat in Geneva, highlighting the persistently low level of the export orders.

The " Trade Barometer" indicator, which the WTO uses to assess the condition on the global market, has new data, according to the Secretariat. It has increased from 95.6 points in May of this year and 92.2 points in March to 99.1 points on a scale of 100.

This shows that trade in products "increased in the second quarter after two quarters of decline," as the WTO secretariat remarked in this regard. However, experts say that as long as the export orders component of the barometer (based on purchasing managers' indices) remains poor, "a sustained economic recovery in the third quarter and beyond is unlikely."

source: wto.org