GENEVA (AP) — Slumping imports in China, currency market swings and falling commodities prices have led the World Trade Organization to cut its forecast for global trade in 2015 by half a percentage point.

The Geneva-based trade body projects global trade — the total of world exports and imports — to rise by 2.8 percent, down from a previous forecast of 3.3 percent.

The WTO also said in its revised forecast Wednesday that volatile financial markets and U.S. monetary policy have clouded the outlook.

If the projections hold up, it would mark the fourth straight year that world trade grew by less than 3 percent.