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

Eren Sengezer FXStreet

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.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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