International trade may increase slower-than-expected

The Secretary-General of the World Trade Organization (WTO) expects smaller-than-expected growth this year, due to the slowdown in global economy.

Pascal Lamy warned that the WTO will probably modify downward its  previous forecast on growth.

In April it seemed that this year’s projected pace will be similar to last year's slowdown. Last year, growth decreased from 13.8 percent to 5.0 percent.

According to analysts, in 2012, international trade may expand by 3.7 percent under the 5.4 percent average of the last 20 year. (Világgazdaság Online)