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WTO Slashes Trade Outlook as US Manufacturing Data Warns of Recession

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Escalating trade tensions and a slowing global economy have led World Trade Organization (WTO) economists to sharply downgrade their forecasts for trade growth in 2019 and 2020. At the same time, the U.S.-based September Purchasing Manager’s Index (PMI) fell 1.3 percent to 47.8 percent, the lowest reading since June 2009 during the Great Recession. Global…

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