22 October 2001, 11:39  The U.S. August trade gap posted a pre-terrorism narrowing

The U.S. August trade gap posted a pre-terrorism narrowing to -$27.1 billion, from a revised -$29.2 billion in July, its best performance since January 2000. August imports dropped $1.2 billion and exports were up $0.9 billion. Of course, September data for the full month will give preliminary indications of how much trade contracted after the terrorism. But movement in the August components suggests a slower world economy was having an impact on the terms of trade by cutting energy prices and reducing demand in the U.S., trends that should have been enhanced by the contractionary effects of the terrorism. //marketnews

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