2012 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Treasury Budget  
Released On 8/10/2012 2:00:00 PM For Jul, 2012
PriorConsensusConsensus RangeActual
Treasury Budget - Level$-59.7 B$-103.0 B$-125.0 B to $-99.0 B$-69.6 B

The Treasury's deficit in July is $69.6 billion for the lowest July deficit since 2007. Calendar effects did move about $12 billion of spending into June and boosted receipts for July by about $6 billion but, even accounting for these effects, the results are better than the Econoday consensus for a $103.0 billion deficit.

Ten months into the fiscal year, the Treasury's deficit, at $973.8 billion, is 11.5 percent smaller than the prior year. Receipts are up 6.1 percent so far this fiscal year with corporate income taxes, at $182.4 billion, showing the largest gain at 29.8 percent. Individual income taxes, at $928.2 billion, are up 4.2 percent. In contrast, the outlay side shows little change with a only 0.4 percent decline. Defense spending, at $564.4 billion, shows the largest decline at 3.2 percent.

Consensus Outlook
The U.S. Treasury monthly budget report showed a June deficit at $59.7 billion. Receipts were up while growth in spending was down, making for a 6.8 percent decline in the nation's deficit 9 months into government's fiscal year. When excluding special factors, such as calendar timings for government payments, the deficit was down 12.7 percent. Looking ahead, the month of July historically shows a deficit for the month. Over the past 10 years, the average deficit for the month of July has been $72.2 billion and $103.6 billion over the past 5 years. The July 2011 deficit came in at $129.4 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

powered by  [Econoday]