28/08/2014
With the decline in corporate tax
US budget deficit jumps to 506 billion dollars
Congressional Budget Office revealed Thursday that the US budget deficit for fiscal year 2014, is expected to reach 506 billion dollars, up slightly from the level expected in April, and $ 492 billion dollars lower than expected income for corporate tax, ending the fiscal year 2014 in September. According to ' Reuters ', the budget Office said that the US budget deficit is expected to remain at levels less than 3 per cent of GDP until 2018 but grow after that to rise to about 4 per cent of GDP in 2022. This is because the income will grow only slightly faster than the economy, while expenditure is expected to increase the fastest. On the other hand, economic data showed the pace of decline rising home prices in 20 US cities in June last year with declining affordability and weak wage growth and a rise in house prices.
Index of ' standard & poor ' - case-Shiller's real estate prices rose 8.1 percent in June last year compared with the same month last year, the lowest annual growth rate of the index since January 2013. The Bloomberg News Agency economic price increase was slower with increasing the number of homes for sale and investors in completing purchases. This was coupled with the improvement of the labor market and increasing the ability of citizens to purchase new homes. It quoted Senior Economist Anika Khan at Wells Fargo sikioritz for brokerage and consulting to say, ' we see more supply in the period ahead is increasing pressure on prices in General see rise in price faster than is justified by the fundamentals of the sector.
The economic data pointed to a slowing pace of new home sales in the United States in July to its lowest level in four months, indicating the loss of real estate power to promote growth in the US economy. The US Commerce Department reported that new home sales fell in July last year by 2.4 percent to the equivalent of 412,000 homes annually and less than less than analysts interviewed agency Bloomberg News economic views and the rate of sales in June had raised to 422 thousand houses annually.
