U.S. Budget Deficit Up 34% in October from Last Year


The U.S. had a budget deficit of $122 billion in October, up 34 percent from the same period last year, according to data released by the Treasury Department on Thursday.

Analysts polled by Reuters had expected a $111.7 billion deficit for last month. The deficit was $91 billion in October of 2013, according to Treasury's monthly budget statement.

Continue Reading Below

Last month's deficit was the largest for the month of October since 2011, according to a Treasury Department official.

October's budget results were affected by differences in the calendar. If adjusted for timing-related transactions, the budget deficit in October would have been $84 billion.

Receipts last month totaled $213 billion, up 7 percent from the year-ago period.

Outlays last month totaled $334 billion, up 16 percent from October of 2013.

(Reporting by Elvina Nawaguna; Editing by Andrea Ricci)