DOLLAR GAP SHRINKS
Progress Toward Balance WASHINGTON, June 20. The international dollar gap shrank to 653,000,000 dollars in the first quarter of 1950, the United States Department of Commerce reported to-day. This was the lowest for any quarter since the end of the war. Converted to an annual rate basis, the United States surplus, of exports of goods and services over imports was 2,600.000,000 dollars—which is 10,000,000,000 dollars below the pcet-war peak in the second quarter of 1947. The dollar gap in 1949 was 6,200,000,000 dollars. The department said that evidence of the somewhat easier financial position of foreign countries was not only the reduced export surplus but also the continued increase in foreign holdings of gold and United States dollars. It added that although the data seemed to indicate considerable progress towards achieving a balance in American international transactions, unwarranted conclusions should not be drawn on the basis of a single quarter.
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Ashburton Guardian, Volume 70, Issue 211, 22 June 1950, Page 5
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153DOLLAR GAP SHRINKS Ashburton Guardian, Volume 70, Issue 211, 22 June 1950, Page 5
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