 "WTO cuts forecasts after trade shrinks in first half of 2015")
The World Trade Organization cut its forecasts for global goods trade on Wednesday after quarterly growth turned negative, with trade shrinking by an average of 0.7% in the first two quarters of this year.
The WTO sees world trade growth of 2.8% this year and 3.9% in 2016, revised down from the forecasts it made in April of 3.3% and 4.0%, respectively.
Risks, including a potential US interest rate rise and further slowing in developing economies, are "firmly on the downside", the WTO said in a statement.
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