US budget posts first surplus in four months
WASHINGTON (AFP) - The US government budget showed a surplus in January for the first time since September as the overall budget deficit trended lower, Treasury Department data released Tuesday showed.
The federal budget had a surplus of US$2.9 billion (S$3.6 billion), the biggest January surplus in five years, the Treasury said.
In January 2012, the budget gap stood at US$27.4 billion.
The surplus caught analysts by surprise; the average estimate was a US$2.0 billion deficit.