US Budget Deficit Shrinks in May
U.S. budget deficit declined 6.5 percent from a year earlier to $130 billion in May as a stronger economy bolstered revenue. Year-to-date deficit reached $436 billion, compared with $626 billion in the same period last year.
It was the smallest shortfall for the first eight months of a fiscal year since 2008.
Receipts went up 1 percent yoy to $200 billion, bringing the year-to-date total to $1.93 trillion. Expenses declined 2 percent yoy to $330 billion, bringing the year-to-date total of $2.37 trillion.
It is usual for the government to run trade deficit in May because there are no significant tax due dates that month.
6/11/2014 7:57:05 PM