World trade volume expanded 2% in June following a 1.3% decline in May, according to the latest report from the Netherlands-based CPB World Trade Monitor.
However, for the second quarter as a whole, world trade was still down 0.5%. That is an improvement on a 1.5% decline in the first quarter.
“A remarkable turnaround occurred in both advanced and emerging economies’ import and export growth,” said the report.
“Growth turned positive in nearly all major economic blocks …
“The only region where import and export growth was negative (and falling) was central and eastern Europe.”
The report said export momentum was positive in advanced economies, but negative in emerging economies, though rising fast from the previous month.
According to preliminary data, world industrial production grew 0.7% in June, following a revised 0.3% decrease in May.