US trade gap shrinks to 7-month low in September

The US trade deficit narrowed sharply in September following a surge in August, hitting a seven-month low as exports rebounded and imports fell, official data released Wednesday showed. The Commerce Department reported the trade gap fell to $40.8 billion in September from a revised $48.0 billion in August, previously estimated at $48.3 billion. "We view the sharp September narrowing in the trade deficit largely as payback from the rapid widening seen in August," said Barclays Research analyst Je