US Government Budget Gap Shrinks in December


The US budget deficit narrowed to USD 23.2 billion in December 2017 from USD 27.3 billion in the same month of the previous year, and compared to market expectations of USD 40.0 billion.

In December, outlays climbed 0.7 percent year-on-year (vs +3.1 percent in November) to USD 349.0 billion as other expenses accounted for USD 140 billion; social security for USD 80 billion; Medicare for USD 46 billion; defense for USD 59 billion and interest on debt for USD 24 billion. Spending in the Department for Homeland Security rose by 10 billion in response to hurricane relief efforts.

Meanwhile, receipts increased 2.1 percent year-on-year (vs +4-3 percent in November) to USD 325.8 billion as individual income taxes accounted for USD 164 billion; social security for USD 85 billion; other taxes and duties for USD 16 billion and corporate income taxes for USD 61 billion.

Considering the first three months of the current fiscal year, the deficit went up to USD 225 billion from USD 210 billion a year earlier.

US Government Budget Gap Shrinks in December


Mario | mario@tradingeconomics.com
1/11/2018 7:58:33 PM