World trade contracted sharply in September, dashing hopes that the global downturn that has been weighing on exporters had bottomed out.
The volume of global trade dropped by 1.3 per cent in September compared to the previous month, after a 0.5 per cent expansion in August, according to data from the CPB World Trade Monitor.
September’s fall reverses the gains made in the previous two months, which had raised expectations that the worst of the disruption caused by the global trade war has passed.
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