Treasury DeparmentWikimedia CommonsTreasury Department

The U.S. budget deficit narrowed to -$130.0 billion in May.

That’s down from -$138.7 billion in May 2012.

Expectations were for $US-130.5 billion.

It’s the third-largest deficit in the past 12 months.

Full release »

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