Singapore's non-oil domestic exports - a key indicator of the

Singapore's non-oil domestic exports - a key indicator of the republic's economy - plummeted a record 30.7 percent in September, the government said Wednesday. The sharp year-on-year fall, to S$7.11 billion (US$3.9 billion), was due to slack global demand for electronics and air traffic disruptions caused by the Sept. 11 terrorist attacks in the United States, the Trade Development Board said. -- AP

The Australian government on Wednesday revised down its forecasts for economic growth and the budget surplus due to a faltering world economy and the impact of the U.S. terrorist attacks. Finance Minister, Treasurer Peter Costello, said the midyear review has revised down to 3 percent from 3.25 percent the forecast for overall economic growth - gross domestic product - made in May. In the following fiscal year, 2002-03, growth is seen rising again to 3.5 percent. -- AP

Taiwan's cabinet approved on Wednesday a two-month extension of third party war risk insurance cover to prevent the possible grounding of the island's airlines following the September 11 attacks on the United States. The cabinet agreed to extend the war risk cover until December 25, an official with the Government Information Office said. -- Reuters

The U.S. economy, hit by the September 11 attacks, is likely to reach a growth rate of around 3.5 percent in the next 12 months, U.S. Commerce Secretary Don Evans said on Wednesday. "The attack of September 11 was a mild shock to the U.S. economy. I continue to have great confidence in the long-term fundamentals of the U.S. economy," Evans said -- Reuters