The U.S. budget surplus was $71-billion (U.S.) at the end of June, down 39 per cent from the same period last year, according to data released by the Treasury Department on Friday.
Analysts polled by Reuters had expected a surplus of $80-billion last month. The surplus was $117-billion in June of 2013.
The year-to-date deficit at the end of June was $366-billion, the lowest since the same period in fiscal 2008, compared with a deficit of $510-billion in the same period in fiscal 2013.
Last month’s budget results were affected by differences in the calendar. If adjusted for timing-related transactions, the budget surplus in June would have been $25-billion.
Receipts for the month totalled $324-billion, up 13 per cent from a year ago, the monthly budget statement said, bringing the year-to-date total receipts to $2.26-trillion.
Outlays last month were at $253-billion, up 49 per cent from last year, for a year-to-date total of $2.62-trillion.
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