U.S. home prices drop

NEW YORK / U.S. home prices fell more steeply than expected in November, and consumers turned less optimistic in January, highlighting the hurdles still facing the bumpy economic recovery.

After accelerating at its fastest pace in 1-1/2 years at the end of 2011, the U.S. economy is expected slow in early 2012.

The S&p/case-shiller composite index of single-family home prices in 20 metropolitan areas, released on Tuesday, declined 0.7 per cent on a seasonally adjusted basis.

Separately, an index of consumer attitudes fell to 61.1 in January from 64.8 the month before.