GENEVA (Reuters) – World trade growth will slow for a second year to 3.7 percent in 2012 but “severe” downside risks could drive it further below the 20-year average of 5.4 percent, the World Trade Organization forecast on Thursday. Trade growth slowed to 5.0 percent in 2011 from 13.8 percent in 2010, and is provisionally expected to rebound to 5.6 percent in 2013. The figure for 2011 was worse than a provisional forecast of 5.8 percent issued in September. “We are not yet out of the woods,” WTO Director General Pascal Lamy said. …

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