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MNI BRIEF: US Notched $240B May Budget Deficit, $1.165T YTD

The Treasury Department on Monday reported a USD1.165 trillion budget deficit in the first eight months of the fiscal year, with a USD240 billion deficit in the month of May.

The May deficit comes after April's USD176 billion surplus. Receipts in May were USD307 billion, down USD82 billion, or 21%, compared with the year-ago month. Outlays were USD548 billion, up USD93 billion, or 20%, compared with May 2022.

Compared to this point last year, the fiscal year 2023 deficit is up 173%, or USD739 billion, the Treasury said.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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