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US trade gap shrinks in September

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WASHINGTON, Nov 8 AFP

November 09 2012, 01:34AM

The US trade deficit narrowed in September to $US41.5 billion ($A40 billion), down from a revised $US43.8 billion in August, on a surge in exports led by industrial supplies, government data shows.

Exports of goods and services jumped 3.1 per cent over August, to $US187 billion, eclipsing a 1.4 per cent rise in imports to $228.5 billion, the Commerce Department said on Thursday.

Exports of goods rebounded after two straight months of declines, surging 4.2 per cent month-on-month to $US134 billion.

The improvement in the US trade deficit surprised most analysts, who had forecast it would widen to $45.4 billion.

The overall trend has shown a steady narrowing of trade balance in the past four months. On a three-month moving average, the trade gap stood at $US42.6 billion in September, down from $US49.7 billion for the three months ended in May.