U.S. budget deficit narrows in fiscal 1Q

By Reuters
Posted Jan. 7 at 1:26 p.m.

The U.S. budget deficit narrowed slightly in the first three months of the fiscal year as revenue grew at a faster rate than outlays, the nonpartisan Congressional Budget Office estimated Friday.

The government recorded a deficit of $371 billion in October, November and December, $18 billion less than a year earlier, CBO said.

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