US trade gap shrinks for first time in six years
David Teather in New York
The US trade deficit declined by 7.8% last year to $346bn as the
recession dampened consumers' appetite for foreign-made goods.
The drop was the first in six years but the deficit was still
the second highest in US history. The narrowing of the deficit
came after a sharp increase during 2000 of 43.5% to $358bn.
Many economists predict the deficit will continue
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