The U.S. December budget deficit was just $260 million. This is according to the latest Monthly Treasury Statement from the Financial Management Service.
Economists were forecasting a deficit of closer to $1 billion.
The December deficit was also the lowest December number since 2007, reports Bloomberg.
It’s worth noting that monthly numbers are noisy, and that seasonal factors tend to be considerable in December.
Regardless, this is an encouraging sign.
Receipts were $269.5 billion while the spending was $269.7 billion. This is important to remember, because budget deficits and surpluses aren’t just about spending levels. Indeed, growth plays just as important a role.
Here’s a look at some historical numbers.