US Government Budget Deficit Beats Expectations in May - Forex News by FX Leaders

US Government Budget Deficit Beats Expectations in May

Posted Thursday, June 13, 2019 by
Arslan Butt • 1 min read

The US government’s budget deficit rose to $208 billion in May, higher than the $185.5 billion deficit forecast. Higher spending on military and social welfare initiatives like Medicare drove up spending and offset a slight increase in revenues earned during this period.

Overall spending of the US government increased to $440 billion, 21% higher than the spending in May 2018. Tariff hikes on Chinese imports helped the government rake in higher earnings, with customs duties generating $5 billion in revenue for May 2019, higher than the $3 billion for the same month last year.

Overall fiscal deficit for 2019 so far has touched $739 billion, significantly higher than the $532 billion for the same period in 2018.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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