WTO Projects Slow Economic Growth In 2012
STEVE INSKEEP, HOST:
NPR's business news starts with more signs of a slowdown.
The World Trade Organization projects that global trade in goods will grow by only 2.5 percent this year. Not so great. That's down from last year's 5 percent growth, and much lower than the nearly 14 percent in 2010 as a global recovery began.
Analysts told The Wall Street Journal that economic problems in Europe are playing a major role here. It's bad news for China, for which the European Union has been a huge export market, and it is also bad news for the United States.
The Obama administration has been relying on exports to bring up the U.S. economy.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.