The latest World Trade Organization index tracking merchandise slumped to a record low in the second quarter,... signaling a V-shaped recovery is unlikely. According to the WTO Goods Trade Barometer released on Wednesday,... the figure was 84-point-5,... the lowest on record since 2007. It's down 15-point-5 points from the index baseline of 100,... suggesting below-trend growth. The WTO says the economic toll of the COVID-19 pandemic means a V-shaped trade rebound in 2021 may be "overly optimistic". It says an L-shaped recovery is more likely.
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