US Government Budget Surplus Narrows in January

The US budget surplus narrowed to USD 49.0 billion in January 2018 from USD 51.2 billion in the same month of the previous year, and compared to market expectations of USD 51.0 billion.

In January, outlays climbed 6.5 percent year-on-year (vs +0.7 percent in December) to USD 311.8 billion as other expenses accounted for USD 116 billion; social security for USD 82 billion; Medicare for USD 49 billion; defense for USD 40 billion; and interest on debt for USD 25 billion.

Meanwhile, receipts increased 4.9 percent (vs +2.1 percent) to USD 361.0 billion as individual income taxes accounted for USD 212 billion, jumping from 164 billion in the previous month; social security for USD 113 billion; other taxes and duties for USD 23 billion; and corporate income taxes for USD 13 billion.

Considering the first four months of the current fiscal year, the deficit went up to USD 176 billion from USD 159 billion a year earlier.

US Government Budget Surplus Narrows in January

Mario |
2/12/2018 7:16:52 PM