US: Fiscal 2018 budget deficit rises to 3.9% of GDP from 3.5% in fiscal 2017

According to the data released by the U.S. Treasury Department, the federal government recorded its highest deficit in six years with $779 billion in the fiscal year 2018 as tax cuts continued to hurt the revenues. Below are key takeaways from the official publication as reported by Reuters.

  • U.S. September budget surplus $119 bln (consensus $107.5 bln surplus) vs Sept 2017 surplus $8 bln.
  • U.S. September budget outlays $224 bln vs $341 bln in September 2017; receipts $344 bln vs $349 bln in September 2017.
  • U.S. fiscal 2018 deficit $779 bln, largest since 2012, vs comparable fiscal 2017 $666 bln deficit.
  • U.S. fiscal 2018 budget outlays $4.11 trln vs $3.98 trln in fiscal 2017; receipts $3.33 trln vs $3.32 trln in fiscal 2017.
  • U.S. fiscal 2018 budget deficit 3.9 pct of GDP compared with 3.5 pct in fiscal 2017.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 


GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 


Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News