The U.S. Treasury Department released its federal budget data on Thursday. The budget surplus turned into a deficit of $192.6 billion in February, beating expectations for a deficit of $200.0 billion, after a surplus of $55.2 billion growth in January.

The budget deficit was driven by higher expenditure, which was $362 billion in February.

In the five months of the fiscal year 2016, which ends at September this year, the budget deficit totalled $353.0 billion, down 8.7% from a year ago.