The U.S. government posted a narrower budget deficit in August compared with a year ago, keeping the annual gap on track to be the smallest in five years.
The deficit for August was $147.9 billion, the Treasury reported Friday. That brought the annual budget gap through the first 11 months to $755 billion, or 35 percent lower than the nearly $1.2 trillion in red ink for the same period last year.
The budget year ends on Sept. 30. The Congressional Budget Office projects the government will run a surplus this month, lowering the annual deficit to $642 billion. That would be the first annual deficit below $1 trillion in five years.
via Mainichi
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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