World trade will grow more slowly than expected in 2016, expanding by just 1.7%, well below the April forecast of 2.8%, according to the latest World Trade Organization estimates. The forecast for 2017 has also been revised, with trade now expected to grow between 1.8% and 3.1%, down from 3.6% previously. With expected global gross domestic product (GDP) growth of 2.2% in 2016, this year would mark the slowest pace of trade and output growth since 2009 during the financial crisis.
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