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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