U.S. Consumer Confidence sales drop at Beginning of Year

U.S. Consumer Confidence sales drop at Beginning of Year. An index that measures U.S. consumer confidence slipped to its lowest level in more than a year due to lower expectations and the current economic outlook bleak, according to data released on Tuesday. Conference Board report showed U.S. consumer confidence index fell to 58.6 in January, its lowest level since November 2011, which was far worse than economists' expectations of 64.0. While the December figure was revised up to 66.7 from 65.1 the previous publication. This confidence index will generally perched on at least level 90 when the economy was in a good condition. "Consumers appear more pessimistic about the economic outlook and especially their financial condition," said Lynn Franco, director of the Conference Board's economic indicators. "The increase in the income tax has eroded consumer morale, and may take some time to restore consumer confidence."

U.S. House Prices Up Most Lots In 6 Years

Home prices in 20 U.S. cities rose the most in more than six years in November, indicate U.S. housing sector recovery gaining momentum. Property price index of the S & P / Case-Shiller up 5.5% from November 2011, the largest annual increase since August 2006, according to a report today in New York. Economists forecast a gain of 5.6%. Housing loan interest rates are near record low pushing demand exceeds the supply of real estate and the tersedua, a signal that prices will continue to rise. "The rise in house prices is the result of supply and demand is supposed to continue this year," said Jennifer Lee, senior economist at BMO Capital Markets in Toronto. "Supply is very low, so it is good news for house prices. The price increase will also encourage optimism and spending overall. "

Apple Launches iPad Version 128GB
Apple Inc.. on Tuesday announced their plans to launch the latest version of the 4th generation iPad that will carry the memory of 128GB, 2 times the largest storage capacity currently available. The latest model also uses a high-resolution Retina display is scheduled to go on sale on 5 February. Apple to fix the price of their new products at $ 799 for Wi-Fi only version and $ 929 for a version that also features wireless connectivity. After the announcement, Apple's stock moved almost 1% higher in pre-market session on Tuesday.

Japan Cabinet Approves Budget Plan Valued at $ 1 Billion

Japanese government's Cabinet on Tuesday approved the draft budget of ¥ 92.6 trillion ($ 1 trillion) for the fiscal year 2013, which is the highest budget record. The budget plan expected to help the effort to control the deficit and support the goals of the new government in creating rapid economic growth. In addition to a major expansion in public sector spending, the increase in the annual budget plan also reflects the difficulty of Prime Minister Shinzo Abe to curb spending on social welfare and defense sectors. Ongoing tensions with China have prompted Abe to increase spending for the first time the defense sector in the last 11 years. Previous highest record was printed budget when the Democrats control the government in the fiscal year 2011, which reached ¥ 92.4 trillion.

Responding to notch a record budget, the government argued that this year's budget plan includes things different so it does not need to be compared with the budget of previous years. Budget in 2012, for example, is not entering the expenses for pension fund reserves to cover the shortfall. If taken into account, the budget for fiscal 2012 will exceed the fiscal year 2013 budget plan, according to the government. In addition to covering a large spending program for the public sector, in the government's draft budget this time has also been set up ¥ 4.4 trillion to finance post-earthquake reconstruction program in a separate account. "For a view of the highest debt levels in the world, this would be a step in a very difficult budget savings," said Yasuo Yamamoto, senior economist at Mizuho Research Institute.