The U.S. Treasury Department released its federal budget data on Wednesday. The budget deficit turned into a surplus of $55.2 billion in January, beating expectations for a surplus of $45.0 billion, after a deficit of $14.0 billion growth in December.

The budget surplus was driven by higher receipts of individual and social insurance taxes.

In the four months of the fiscal year 2016, which ends at September this year, the budget deficit totalled $160.4 billion, down from a deficit of $194.2 billion a year ago.