Business

Economy’s rise helps deficit fall

WASHINGTON — The US government’s deficit through the first four months of this budget year is down 36.6 percent from a year ago, signaling further improvement in the nation’s finances.

In its monthly budget report, the Treasury Department said Wednesday the deficit for January was $10.4 billion.

Advertisement

For the period from October through January, it totals $184 billion. That is down $106.4 billion from the same period a year ago.

The Congressional Budget Office is projecting that the deficit for the current budget year will decline to $514 billion. That would be the smallest imbalance in six years. The deficit last year was $680.2 billion.

Get Talking Points in your inbox:
An afternoon recap of the day’s most important business news, delivered weekdays.
Thank you for signing up! Sign up for more newsletters here

Rising tax revenues from an improving economy and government spending constraints are helping to trim the deficit.

Associated Press

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.