2012 Economic Calendar
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Treasury Budget  
Released On 6/12/2012 2:00:00 PM For May, 2012
PriorConsensusConsensus RangeActual
Treasury Budget - Level$59.1 B$-125.0 B$-125.0 B to $-68.0 B$-124.6 B

Eight months into the government's fiscal year, the Treasury's deficit, at $844.5 billion, is very sizable but continues to show improvement, down 8.9 percent vs a year ago. Receipts are up 5.4 percent so far this fiscal year with outlays fractionally lower. For May, the gap comes in almost right on expectations at $124.6 billion.

Consensus Outlook
The U.S. Treasury monthly budget report showed a surplus of $59.1 billion in April, marking the first monthly surplus in more than 3-1/2 years and taking the government's year-to-date deficit, half way through the government's fiscal year, down to $719.9 billion which was 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.

Looking ahead, the month of May typically shows a moderate deficit for the month. Over the past 10 years, the average deficit for the month of May has been $90.0 billion and $120.4 billion over the past 5 years. The May 2011 deficit came in at $57.6 billion.

The U.S. Treasury releases a monthly account of the surplus or deficit of the federal government. Changes in the budget balance reflect Federal policy on spending and taxation. The government's fiscal year begins in October.  Why Investors Care
The federal budget balance is not seasonally adjusted. Consequently, it is useful to compare the current month's budget deficit or surplus to the same month for a couple of years. Some months are known to have large surpluses because quarterly estimated tax payments are received by the government.
Data Source: Haver Analytics

2012 Release Schedule
Released On: 1/122/103/124/115/106/127/128/109/1310/1211/1312/12
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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