America's shrinking deficit

MARTIN CRUTSINGER
Last updated 09:59 13/02/2014

Relevant offers

World

Google CEO Sundar Pichai sees the end of computers as physical devices Box of 'original' flavoured Arnott's Shapes selling on eBay for $60 Carl Icahn warns 'day of reckoning' approaches, sells entire Apple stake Venezuela declares 2-day workweek due to severe electricity shortages Drug-maker hands out world's highest chief executive pay package Australia's human guinea pigs in demand from Asia for clinical trials Hanes makes play for Australia's Pacific Brands SpaceX says it will fly a spacecraft to Mars as soon as 2018 Gorman under fire over Instagram post featuring Chinese factory workers Brexit vote nerves turn overseas investors off UK commercial property - RICS

The US government's deficit through the first four months of this budget year is down 36.6 per cent from a year ago, signalling further improvement in the nation's finances.

The Treasury Department says the deficit for January was US$10.4 billion ($12.4 billion).

For the period from October through January, it totals US$184b. That is down US$106.4b from the same period a year ago and puts the country on track for a further improvement in the budget deficit.

The Congressional Budget Office is projecting that the deficit for the current budget year will decline to US$514b.

That would be the smallest imbalance in six years. The deficit last year was US$680.2b.

Rising tax revenues from an improving economy and government spending constraints are helping to trim the deficit.

Ad Feedback

- AP

Special offers

Featured Promotions

Sponsored Content