World Coronavirus Dispatch: WTO sees merchandise trade falling 9.2% in 2020

UK house prices jump most since 2016, German industrial output drops as virus spreads, Czech Republic is top Europe hotspot, and other pandemic-related news across the globe

Two custodians of the global economy signalled that while the early days of pandemic recovery were stronger than expected in some countries and industries, a return to full health is likely to be longer and bumpier than they first predicted.

The World Trade Organization said it expects global merchandise trade to fall by 9.2 per cent this year from 2019, compared with the 12.9 per cent drop projected in April, according to revised forecasts released Tuesday. But the WTO also said it expects global trade growth of 7.2 per cent in 2021, much weaker than the prior outlook for a