However, the WTO said any slowdown may be short-lived given that container throughput at Chinese ports and new export orders have already started to pick up, the former following a sharp easing of COVID-19 restrictions in China. The WTO said its goods trade barometer dropped to 92.2 points in March from 96.2 points in November, remaining well below the 100-point baseline dividing above- and below-trend trade volumes.
The WTO said the automotive component of the index was positive due to above-trend sales and production in the United States, Europe and Japan, outweighing a decline in China. However, indices for container shipping, electronic components and raw materials were all below trend and declining. The WTO goods trade barometer is a composite of data and is designed to anticipate turning points and gauge momentum in global trade growth rather than to provide a specific short-term forecast. (Reporting by Philip Blenkinsop; Editing by Angus MacSwan)
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