Econoday Report: Treasury Budget 12, 2007

2008 Economic Calendar
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Treasury Budget

Definition
The U.S. Treasury releases a monthly account of the surplus or deficit of the federal government. Changes in the budget balance of the annual fiscal year (which begins in October) are followed as an indicator of budgetary trends and the thrust of fiscal policy. Why Investors Care

Released on 7/12/07 For Jun 2007

Treasury Budget - Level
Actual	$27.5B
Consensus	$30.0B
Consensus Range	$20.0B to $49.0B
Previous	$ -67.7 B

Highlights
The Treasury posted an as-expected surplus of $27.5 billion in June, pushing down the fiscal-year-to-date deficit to $121.0 -- well down from $206.5 billion at this time last year. Tax receipts are strong at the same that spending has slowed, a positive combination for U.S. assets and financial markets.

Market Consensus Before Announcement
The U.S. Treasury monthly budget report showed the Treasury's deficit coming in at $67.7 billion in May. The results narrowed the fiscal year-to-date improvement to 35 percent: $148.5 billion vs. $227.0 billion in May of last year. Looking ahead to this week's release, the month of June typically shows a moderate surplus for the month. Over the past 10 years, the average surplus for the month of June has been $36.0 billion.

Treasury Statement Consensus Forecast for June 07: $30.0 billion surplus
Range: $20.0 billion surplus to $49.0 billion surplus

Trends

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

2007 Release Schedule

Released On: 1/12 2/12 3/12 4/11 5/10 6/12 7/12 8/10 9/13 10/11 11/13 12/12

Released For: Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov