Trade gap in Sept narrows to 7-month low as fuel imports fall

Washington

THE US trade gap shrank in September to a seven-month low, reflecting declining purchases of foreign fuel as the world's largest economy continued its drive toward energy independence.

The deficit decreased 15 per cent to US$40.8 billion from a revised US$48 billion in August, the Commerce Department reported Wednesday in Washington. The median forecast in a Bloomberg survey of 67 economists called for a deficit of US$41 billion. Demand for petroleum produced abroad fell to the lowest level in more than a decade, while exports climbed.