This morning the Financial Times reports that, per data from the CPB World Trade Monitor, the volume of international trade fell by 1.3 per cent in the month to September 2019; this follows a 0.5 per cent increase in August. Looking back over the year there was a 1.1 per cent contraction, a fourth consecutive annual shrinkage and the longest decline since 2009’s great financial crisis. The US and China were the biggest drag on the numbers, imports falling by 2.1 per cent and 6.9 per cent respectively.
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