US Budget Deficit Narrows in July


US budget gap reached USD95 billion at the end of July, down 3 percent from the same period last year as tax revenue grew at a faster pace than government spending.

In July, receipts reached USD211 billion, up 5 percent from the same period last year. Spending summed up to USD305 billion, up 3 percent from July of 2013. 

For the first 10 months of 2014 budget year, the deficit was USD460.5 billion, down 24.2 percent from the same period a year ago. Receipts grew 8 percent to USD2.469 trillion while outlays increased 1 percent to USD2.930 trillion.

US Budget Deficit Narrows in July


Anna Fedec | anna@tradingeconomics.com
8/12/2014 8:06:33 PM