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22.12.27WTO's Barometer Falls in Oct.
The World Trade Organization (WTO)'s Service Trade Barometer for the month of October fell to 98.3, slightly below its baseline value of 100 and well below the previous reading of 105.5 from the last release in June.
World services trade volume finally surpassed its pre-pandemic peak in the second quarter of 2022 and was expected to remain strong in the third quarter, buoyed by spending on travel, information and communication technology (ICT) services and financial services.
The barometer, an indicator for world trade, shows that services trade will expand when reaching 100 or higher, but that it will shrink when falling below 100.
