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US budget deficit widened more than expected in November

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US budget deficit widened more than expected in November

The U.S. federal government ran a wider budget deficit in November as outlays jumped month over month while revenues fell, the Treasury Department reported.

The monthly budget deficit rose to $208.84 billion in November from $134.47 billion in October, the first month of the government's fiscal year 2020.

The consensus estimate of economists polled by Econoday was for a budget deficit of $196 billion in November.

Government receipts declined to $225.19 billion in November from $245.52 billion in the previous month, while outlays climbed to $434.02 billion from $379.99 billion over the same period.

November's budget imbalance was also higher than the year-ago monthly deficit of $204.90 billion.