FRANKFURT, Aug. 5 (Xinhua) -- The European Central Bank (ECB) has predicted global trade to recover only mildly in the coming quarters, while the threat of a further escalation of trade tensions persists, according to a report published Monday.
Despite some signs of recovery, global trade is likely to remain more subdued than economic activity in coming quarters, ECB analysts said in a report from its latest issue of Economic Bulletin.
The growth of global trade will pick up only gradually owing to a subdued outlook for investment in many economies, the report noted.
Downside risks to the trade outlook have partially materialized in recent months due to the implementation of higher tariffs, it said, warning that the threat of a further escalation of trade tensions persists.
The ECB report analyzed the softness in global trade since the second half of 2018, which it described as "broad-based across regions" and more pronounced than the decline in global GDP growth.
