GENEVA : The World Trade Organization is sharply increasing its forecast for merchandise trade growth worldwide this year, more than doubling its earlier prediction to 3.9% as booming AI investments offset a hit from the war in the Middle East.

The Geneva-based trade body says global trade chugged along at a hearty pace, as supply chains adapted and AI-related spending poured in to provide “a powerful boost to goods trade.”

The revised forecast marks a big jump from an initial WTO forecast in this spring . . .