Highlights
A surplus of $59.1 billion in April marks the first monthly surplus in more than 3-1/2 years and takes the government's year-to-date deficit, half way through the government's fiscal year, down to $719.9 billion which is sizably below the year-ago period deficit of $869.8 billion. Special factors did move $30 billion of outlays into March, yet even without these factors April still would show a $19 billion surplus. April, the month of course when annual income taxes are due, is historically a surplus month showing surpluses in 44 of the last 58 fiscal years. Led by a 40 percent increase in the corporate tax component and a 5.0 percent increase in the far larger component of individual taxes, receipts so far this fiscal year are up 5.6 percent. The outlay side is also contributing, showing a year-to-date decline of 3.5 percent led by declines in Medicare and defense.

Market Consensus before announcement
The U.S. Treasury monthly budget report showed that the nation's budget gap came in about as expected in March, at $198.2 billion. Halfway through the government's fiscal year, the budget gap continued to show improvement, at a fiscal year-to-date $779.0 billion versus a gap of $829.4 billion at this time last year. Looking ahead, the month of April typically shows a surplus for the month. Over the past 10 years, the average surplus for the month of April has been $73.6 billion and $70.4 billion over the past 5 years. The April 2011 deficit came in at $40.4 billion.

2012 Release Schedule

Released On: 1/12 2/10 3/12 4/11 5/10 6/12 7/12 8/10 9/13 10/12 11/13 12/12 Release For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov