Treasury Runs Budget Deficit Of $121.7 Billion In October

The U.S. federal government ran a budget deficit of $121.7 billion during the month of October. This compares with a $91.6 billion deficit in October of 2013.

Monthly Activity

Receipts for the month totaled $212.7 billion, up from $198.9 billion a year earlier. Total outlays were $334.4 billion from $290.5 billion a year earlier.

The rolling 12-month U.S. government budget deficit through October was $514.5 billion, worse than the $484.3 billion in September. The rolling 12-month budget balance as a percentage of gross domestic product is -2.93%.

Budget Balance

U.S. Q3 GDP Growth Revised To 3.9%

Real gross domestic product increased at a seasonally adjusted annual rate of 3.9% in the third quarter, the BEA published this morning. This was the second estimate for Q3, and is an upward revision from the initial estimate of a 3.5% growth rate. GDP grew at a rate of 4.6% in Q2.

Components of GDP by their contributions to GDP growth in Q3:

  • Personal consumption expenditures: +1.51%
  • Private investment: +0.85%
  • Net Exports: +0.78%
  • Government Consumption: +0.76%

GDP Contributions

Nominal GDP was at an annualized $17,555.2 trillion in Q3, while real (inflation adjusted, 2009 chained) GDP was $16,164.1 trillion.

GDP

Real GDP is up 2.4% from Q3 2013.

GDP Annual

U.S. Q3 GDP Growth At 3.5%

Real gross domestic product increased at a seasonally adjusted annual rate of 3.5% in the third quarter, the BEA published this morning. This was the initial estimate for Q3, and follows a growth rate of 4.6% in the second quarter.

Components of GDP by their contributions to GDP growth in Q3:

  • Personal consumption expenditures: +1.22%
  • Private investment: +0.17%
  • Net Exports: +1.32%
  • Government Consumption: +0.83%

GDP Contributions

Nominal GDP was at an annualized $17,535.4 trillion in Q3, while real (inflation adjusted, 2009 chained) GDP was $16,150.6 trillion.

GDP Nominal

Real GDP is up 2.3% from Q3 2013.

GDP Annual

Treasury Runs Budget Surplus Of $105.8 Billion In September

The federal government ran a budget surplus of $105.8 billion during the month of September. This compares with a $75.1 billion surplus in September of 2013.

Treasury Monthly

Receipts for the month totaled $351.7 billion, up from $301.4 billion a year earlier. Total outlays were $245.9 billion from $226.43 billion a year earlier.

The rolling 12-month U.S. government budget deficit through September was $484.4 billion, an improvement from $515.1 billion in August. The rolling 12-month budget balance as a percentage of gross domestic product is -2.80%.

Budget Balance

Japan’s Struggling Exports

Japan

When a country’s currency loses nearly a quarter of its value, its exports normally pick up. The profound effect of depreciation on exports and on GDP can provoke currency wars and harsh words among central bankers. Yet in Japan the relationship has broken down. The yen is down by around 22% since the end of 2012, but rather than rising, export volumes actually fell by 1.5% in 2013 and by 0.4% between January and August this year. Why?

The mystery of Japan’s sluggish exports

Treasury Runs Budget Deficit of $128.7 Billion In August

The federal government ran a budget deficit of $128.7 billion during the month of August. This compares with a $147.9 billion deficit in August of 2013.

Treasury Activity

Receipts for the month totaled $194.2 billion, up from $185.4 billion a year earlier. Total outlays were $323.0 billion from $333.3 billion a year earlier.

The rolling 12-month U.S. government budget deficit through August was $515.1 billion, an improvement from $534.3 billion in July. The rolling 12-month budget balance as a percentage of gross domestic product is -2.98%.

Treasury Budget Balance