US June federal budget deficit $120 billion vs $138 billion expected

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  • May was -$239 billion
  • Last June was a surplus of $108 billion
  • Year to date deficit of $1.367 trillion vs $1.337 trillion a year ago
  • June customs duties of negative $25.6 billion due to refunds

The customs refunds made this number look worse that it was, but economists should have had that built into the consensus. In any case, it's not a pretty picture and tariffs haven't made it better.

This article was written by flc97fe4880a4b454993821fe0b770a597 at investinglive.com.

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