U.S. Budget Surplus at $2B at End of December

Politics Reuters

The U.S. budget surplus was $2 billion at the end of December, down 96 percent from the same period last year, according to data released by the Treasury Department on Tuesday.

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Analysts polled by Reuters had expected a surplus of $3 billion last month. The surplus was $53 billion in December of 2013.

The fiscal year-to-date deficit at the end of December was $177 billion compared with a deficit of $173 billion in the comparable period last year.

Last month's budget results were affected by differences in the calendar. If adjusted for timing-related transactions, the budget surplus in December would have been $11 billion.

Receipts for the month totaled $335 billion, up 18 percent from a year ago, the monthly budget statement said, bringing the year-to-date total receipts to $739 billion.

Outlays last month were at $333 billion, up 44 percent from last year, for a year-to-date total of $916 billion.

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(Reporting by Elvina Nawaguna; Editing by Paul Simao)