The United States ended the month of March with a budget deficit of $53 billion, up 43 percent from the same period last year, the U.S. Treasury Department said on Monday.
Analysts polled by Reuters had forecast a $43 billion deficit for last month. The deficit was $37 billion in March of 2014, according to Treasury’s monthly budget statement. The current fiscal year-to-date deficit stood at $439 billion at the end of last month.
Differences in the monthly calendar affected March’s budget results. If adjusted for timing-related transactions, the budget deficit would have been $89 billion. Receipts last month totaled $234 billion, up 8 percent from the year-ago period, while outlays were $287 billion, up 14 percent from the year-ago period, the Treasury said.