US Posts $43 Billion Deficit in July


The US government posted a USD 43 billion budget deficit in July 2017, smaller than a USD 113 billion gap in the same month of the previous year and below market expectations of a USD 73 billion deficit. Outlays fell 15 percent year-on-year to USD 275 billion while receipts increased 10 percent to USD 232 billion.

In July 2017, outlays declined 15 percent year-on-year and totaled USD 275 billion, as social security accounted for USD 79 billion, defense for USD 43 billion, Medicare for USD 23 billion and interest on debt for USD 26 billion. Other outlays accounted for the remaining USD 104 billion. Meanwhile, receipts increased 10 percent to USD 232 billion as individual income taxes accounted for USD 113 billion, social security and other payroll taxes for USD 88 billion, corporate income taxes for USD 9 billion and other taxes and duties for the remaining USD 21 billion.

When accounting for calendar adjustments, the deficit was USD 93 billion, compared with a USD 113 billion gap in July 2016.

The fiscal 2017 year-to-date deficit was USD 566 billion compared with USD 512 billion in the same period of fiscal 2016.

US Posts $43 Billion Deficit in July


US Treasury | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/10/2017 6:08:48 PM