U.S. deficit to shrink to $559 billion in fiscal year 2017: CBO

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FILE PHOTO: A man pushes his shopping cart down an aisle at a Home Depot store in New York, July 29, 2010. REUTERS/Shannon Stapleton (Copyright Reuters 2017)

The U.S. budget deficit is expected to dip slightly to $559 billion in fiscal year 2017 compared to $587 billion a year earlier, the Congressional Budget Office said on Tuesday.

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The non-partison CBO said it forecast U.S. real gross domestic product growth in calendar year 2017 at 2.3 percent, slowing to 2 percent in 2018.

(Reporting by Emily Stephenson; Editing by Chizu Nomiyama)