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.
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