WASHINGTON— The U.S. government posted a $49.8 billion deficit in January, the Treasury Department reported Thursday.

The federal government’s December ­deficit was revised to $78.1 billion from $80.0 billion.

Economists expected a $66 billion deficit for the month, according to the median estimate from Thomson Reuters.

Outlays totaled $276.3 billion in January while the government received $226.6 billion in revenue.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.