2018 Economic Calendar
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Treasury Budget  
Released On 8/10/2018 2:00:00 PM For Jul, 2018
PriorConsensusConsensus RangeActual
Treasury Budget - Level$-74.9 B$-73.5 B$-78.0 B to $31.4 B$-76.9 B

The government's deficit deepened by $76.9 billion in July to slightly exceed Econoday's consensus for $73.5 billion. Ten months into the government's fiscal year, the deficit is at $684.0 billion which is 20.8 percent deeper than a year ago.

Spending is up a fiscal year-to-date 4.4 percent, at $3.450 trillion, and includes a 20.4 percent rise in net interest reflecting rising debt-service expenses, a 5.6 percent increase in defense, a 4.5 percent rise in Social Security and 3.5 percent increase in Medicare.

Fiscal year-to-date receipts are up 1.0 percent, at $2.766 trillion, with percentage gains led by customs duties, which rose 14.2 percent, to $32.5 billion, and excise taxes, up 8.5 percent to $70.8 billion. Tax receipts this fiscal year are up 7.8 percent for individuals, at $1.415 trillion so far, and down 28.5 percent for corporations, at $166.0 billion.

Consensus Outlook
Individual tax receipts are on the rise but so is spending. The last Treasury statement in June showed a $607.1 billion deficit nine months into the government's fiscal year, up significantly from a $523.1 billion a year ago. Econoday's consensus for the July statement is a monthly deficit of $73.5 billion with the high end estimate at a surplus of $31.4 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

2018 Release Schedule
Released On: 1/112/123/124/115/106/127/128/109/1310/1111/1312/12
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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