2018 Economic Calendar
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Treasury Budget  
Released On 6/12/2018 2:00:00 PM For May, 2018
PriorConsensusConsensus RangeActual
Treasury Budget - Level$214.3 B$-144.0 B$-158.5 B to $-105.0 B$-146.8 B

The government's deficit deepened by $146.8 billion in May to just exceed Econoday's consensus for $144.0 billion. Eight months into the government's fiscal year, the deficit is at $532.2 billion which is 23.0 percent deeper than a year ago.

Spending is up a fiscal year-to-date 5.9 percent and includes a 17.5 percent rise in net interest reflecting rising debt-service expenses and also a 5.2 percent rise for defense and a 4.3 percent increase in Social Security.

Receipts are up 2.6 percent led in percentage gains by excise taxes and customs duties. After the big tax, corporate taxes are contributing less to the receipt ledger and individual taxes are contributing more. Individual taxes from May back to January when the cut took effect total $752.3 billion and are running 8.1 percent greater than the year-ago comparison while corporate taxes, at $61.7 billion so far in 2018, are down 31.6 percent.

Consensus Outlook
Corporate tax receipts are sharply lower this year but not individual tax receipts which fed a strong $214.3 billion budget surplus in April that trimmed 2018's deficit, seven months into the fiscal year, to $385.4 billion which was still, however, 11.9 percent deeper than the year-ago pace. For May, forecasters see the monthly statement turning negative at a deficit of $144.0 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

2018 Release Schedule
Released On: 1/112/123/124/115/106/127/128/109/1310/1511/1312/12
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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