US BUDGET DEFICIT FALLS TO 5-YEAR LOW, TAX REVENUES HIT RECORD HIGH

The U.S. Treasury Department just released its fiscal-year 2013 and September budget results.

The September budget surplus was $US75.1 billion (versus the $US69 billion estimated by economists).

Perhaps the more notable figure is the fiscal-year 2013 deficit, which at $US680.3 billion is at a five-year low.

Revenues from tax receipts hit a record high of $US2.77 trillion in 2013, while spending was $US3.45 trillion — down from $US3.54 trillion in 2012.

“We expect the deficit to continue to narrow in the coming months, although likely not at the record-setting pace seen during the past year,” says Barclays economist Cooper Howes.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.