Companies across the world are pumping the brakes this year on shipments and new purchases from overseas, CNN Money reports.
Global trade volume only rose 0.1% in June compared to a year ago, according an analysis of government global trade data released today by analytics firm Panjiva.
It’s the lowest monthly gain since 2009.
“We’ve have some pretty clear signs that global trade has slowed down,” says Chris Rogers, a research analyst at Panjiva.
The numbers come a day before the U.S. Census releases data on July U.S. trade.
American exports in June were down 5% from a year ago and its trade balance declined for the third straight month, Census data shows. Another region pulling down global trade is Latin America. Its total trade volume decreased in June as well, Panjiva found.
The strong dollar remains a major headwind for American companies that sell computers, cars and other products overseas. A strong currency makes U.S. products more expensive—and less attractive—to foreign buyers.
