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UBS On-Air: Market Moves

UBS On-Air: Paul Donovan Daily Audio 'Trading away'

5 min • 26 september 2023
The World Trade Monitor reported an accelerated drop in July trade volumes (implying a faster drop in trade share of the world economy). Spending on fun is a service sector thing (though there may be some new clothes bought along the way). Some of this is down to the fact that the 2021 surge in goods demand has cannibalized future demand. Some of this may be a structural break in consumption patterns favoring services.
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