The U.S. Treasury Department released its federal budget data on Wednesday. The budget deficit declined to $82.4 billion in May, down from a deficit of $130 billion in May 2014. Analysts had expect a decline to $98 billion.
The budget deficit declined as revenue was higher than expenses.
Receipts in May rose 6% from the same period last year, while outlays declined 11% from the same period last year.