Foreign shoppers likely to add USD 850B to US economy

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Source: Bloomberg
Overseas shoppers from China and Brazil may fuel retail sales in US if government would ease the issuance of tourist visas for these countries. According to Obama plan, Chinese and Brazilian shoppers would boost tourism in US, create about 1.3 million new jobs and inject nearly USD 850B in country's economy by 2020. President has signed order requiring Department of Homeland Security to come up with a proposal how to speed up processing of tourist visa applications. 
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Tue, 31 Jan 2012 16:21:27 GMT

US house price slips more than expected

US housing prices declined more than predicted in November, signalling slower recovery in nation's property market. S&P/Case-Shiller index fell 3.7% in November compared to previous year. Economists questioned by Bloomberg previously predicted a drop around 3.3%. Analysts suggest that relatively high number of foreclosures may keep further pressure on property prices. 

Tue, 31 Jan 2012 16:15:41 GMT

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