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M. Continuo

U.S. logs first monthly budget surplus in 42 months


    WASHINGTON (Reuters) - The U.S. Treasury said on Thursday it posted a budget surplus for the first time in 42 months in April on a rise in receipts in the month most Americans pay their taxes combined with lower expenditures.

    The Treasury said it had logged a $59.12 billion surplus in the month, compared with a $40.39 billion deficit in April 2011. The last time the government notched a surplus in any month was September 2008, officials said.

    The cumulative budget deficit for the first seven months of the year totaled $719.86 billion, compared with a shortfall of $869.81 billion over the same period in fiscal year 2011.

    (Reporting by Mark Felsenthal)