WTO trade barometer rises, but slowdown expected later in the year
June 26 (Reuters) - The World Trade Organization reported a rise in its quarterly trade barometer on Thursday, driven by frontloading purchases but likely to be short-lived as weakening export orders suggest a slowdown later in the year.
The WTO Goods Trade Barometer rose to 103.5, above the baseline of 100 dividing above- and below-trend trade volumes and slightly above a March reading of 102.8.
"The decline in export orders and the temporary nature of frontloading suggest that trade growth may slow in the months ahead," the WTO said in a statement.
The forward-looking new export orders index fell to 97.9, below the baseline of 100, signalling weaker trade growth later in the year.
On Thursday, leaders of the European Union are set to decide whether they want a quick trade agreement with the U.S., or push negotiations further in the hopes of striking a better deal.
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