US budget surplus at $119B in January

By Ovunc Kutlu

ANKARA (AA) - The US federal budget surplus stood at $119 billion in January, the Treasury Department said Thursday.

It showed a dramatic improvement from a $163 billiondeficit during the same month of the previous year.

Analysts expected a surplus of $25 billion.

Total receipts were $465 billion against outlays of $346 billion, according to the agency's figures.