World trade momentum carries over into Q2

Although the CPB’s latest figures suggest that world trade volumes fell in February, these estimates are often subject to hefty revisions, and the three-month average growth rate remains quite encouraging. Moreover, early indications are that trade has continued to grow strongly in March and April. Data published today by the Netherlands CPB Bureau revealed that global trade volumes fell by 0.6% in February. However, this follows an upwardly-revised 1.0% increase in January, and a cumulative 4.4% rise since November.