The CPB Netherlands Bureau for Economic Policy Analysis released its monthly report today on world trade and world industrial production for the month of February. Here are some of the highlights:
1. World trade volume increased in February for the seventh consecutive month, bringing global trade to a new all-time record high (see chart below). This was also the third month in a row that world trade was above the previous peaks during early 2008, when the U.S. recession and financial crisis started spreading, causing world trade to drop by 20 percent in 2009.
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