July 12, 2018 / 6:07 PM / 5 days ago

U.S. government posts $75 billion deficit in June

WASHINGTON (Reuters) - The U.S. government had a $75 billion budget deficit in June, Treasury Department data released on Thursday showed.

FILE PHOTO: U.S. dollar banknote is seen in this picture illustration taken May 3, 2018. REUTERS/Dado Ruvic/Illustration

That compared to a budget deficit of $90 billion in the same month last year, according to the Treasury’s monthly budget statement.

Economists polled by Reuters had forecast the Treasury running a $98.2 billion deficit in June.

When accounting for calendar adjustments, the government’s deficit was $26 billion compared to an adjusted deficit of $48 billion in the same month the previous year.

The deficit for the fiscal year, which began last October, was $607 billion, compared to a deficit of $523 billion in the same period of fiscal 2017. On an adjusted basis, the gap of $610 billion compared with $520 billion in the prior period.

Unadjusted receipts last month totaled $316 billion, down 7 percent from June 2017, while unadjusted outlays were $391 billion, a fall of 9 percent from the same month a year earlier.

Reporting by Lindsay Dunsmuir; Editing by Andrea Ricci

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