Goods barometer confirms steep drop in trade but hints at nascent recovery.

World merchandise trade likely registered a historic fall in the second quarter of 2020, according to the latest reading of the WTO’s Goods Trade Barometer, a real-time gauge of trends in global trade. Additional indicators point to partial upticks in world trade and output in the third quarter, but the strength of any such recovery remains highly uncertain: An L-shaped, rather than V-shaped, trajectory cannot be ruled out.

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