Trade tensions may be starting to hold back global merchandise trade, the World Trade Organization said on Friday, as it published an outlook indicator showing growth was above trend this quarter but slowing down.

The World Trade Outlook Indicator (WTOI), a composite published since the third quarter of 2016, showed a reading of 101.8 compared to 102.3 in February.

"The recent dip in the WTOI reflects declines in component indices for export orders in particular but also for air freight, which may be linked to rising economic uncertainty due to increased trade tensions," the WTO said in a statement.

This has been excerpted from the 17 May 2018 edition of CBC News.