US Views: Looking to 2014 (Hatzius)

US Views: Looking to 2014 (Hatzius)

Published December 10, 2013

1. The economic news remains broadly encouraging. Although we would discount the 3.6% increase in Q3 GDP—which was inflated by a large inventory contribution that is likely to reverse in Q4—other indicators also suggest that growth has accelerated since earlier in the year. Nonfarm payrolls grew a solid 203,000 in November, business surveys are at levels consistent with above-trend growth, and the consumer picture is improving, judging from the latest auto sales and consumer sentiment figures. Taking October and November together to adjust for the government shutdown distortions, our current activity indicator (CAI) has averaged 3% in the past two months, up from around 2% in the first half of 2013. Likewise, our US-MAP surprise index has moved back into positive territory, indicating that the economic activity data are mostly beating consensus forecasts.

SHORT-TERM ENERGY OUTLOOK: Global Crude Oil and Liquid Fuels

http://www.eia.gov/forecasts/steo/report/global_oil.cfm

SHORT-TERM ENERGY OUTLOOK
Release Date: December 10, 2013 | Next Release Date: January 7, 2014 | Full Report | Text Only | All Tables | All Figures

Global Crude Oil and Liquid Fuels

SHORT-TERM ENERGY OUTLOOK: Prices

http://www.eia.gov/forecasts/steo/report/prices.cfm

SHORT-TERM ENERGY OUTLOOK
Release Date: December 10, 2013 | Next Release Date: January 7, 2014 | Full Report | Text Only | All Tables | All Figures

Prices

SHORT-TERM ENERGY OUTLOOK: Overview

http://www.eia.gov/forecasts/steo/index.cfm

SHORT-TERM ENERGY OUTLOOK
Release Date: December 10, 2013 | Next Release Date: January 7, 2014 | Full Report | Text Only | All Tables | All Figures

Overview

PIERRE & VACANCES RETURNS TO PROFITABILITY

PIERRE & VACANCES RETURNS TO PROFITABILITY

The Pierre & Vacances Center Parcs group closed the year with an operating profit of 2.6 million euro, as compared to a loss of 7 million euro last year.

http://hospitality-on.com/en/news/2013/12/10/pierre-vacances-returns-to-profitability/

Economists a bit more upbeat about 2014

http://www.cnbc.com/id/101254028

Economists a bit more upbeat about 2014

Published: Monday, 9 Dec 2013 | 12:01 AM ET
By: John W. Schoen | CNBC.com Economics Reporter

They're not exactly singing "Happy Days Are Here Again," but business economists are feeling a little more upbeat about the recovery and job market heading into next year, according to a survey of the group released Monday.

GLOBAL OFFICE FORECAST 2014-2015

http://www.cushmanwakefield.kr/en-gb/research-and-insight/2013/global-office-forecast-2014-2015/

GLOBAL OFFICE FORECAST 2014-2015
Published Date : 04/12/2013
Maria Sicola

The following is a summary
Download the PDF

The global office market is poised for slow steady growth in 2014, while 2015 should be more robust as recovery takes hold and business gains renewed confidence. Jakarta, Dublin and Boston are the regional leaders among the top cities forecasted to see the highest office rental rate growth through 2015.

Natural gas use for power generation falls as industrial sector's use continues to rise

DECEMBER 4, 2013
Natural gas use for power generation falls as industrial sector's use continues to rise

http://www.eia.gov/todayinenergy/detail.cfm?id=14031

Source: U.S. Energy Information Administration, Natural Gas Monthly and Short-Term Energy Outlook (STEO)
Note: October 2013 and November 2013 consumption volumes represent preliminary STEO estimates.

For the first eleven months of 2013, natural gas consumption in the electric power sector was below 2012 levels because of relatively higher natural gas prices compared with coal prices, and cooler summer weather compared with 2012. EIA estimates that electric power sector natural gas consumption was, on average, down by 13% so far in 2013 (through November), relative to the same time period in 2012. By contrast, industrial sector natural gas consumption in 2013 was up 3% compared with 2012.

Global Office Forecast 2014-2015

http://www.cushmanwakefield.com/en/research-and-insight/2013/global-office-forecast-2014-2015/

Global Office Forecast 2014-2015
Published Date : 12/4/2013
Maria Sicola

The following is a summary
Download the PDF

The global office market is poised for slow steady growth in 2014, while 2015 should be more robust as recovery takes hold and business gains renewed confidence. Jakarta, Dublin and Boston are the regional leaders among the top cities forecasted to see the highest office rental rate growth through 2015.

Europe’s real estate market watch

Europe’s real estate market watch

Dentons
Eric Rosedale

European Union
December 3 2013

Europe’s real estate recovery gains momentum

After years of facing a brutal combination of global tail risks and local head winds, European real estate markets appear to be gathering steam in both volume and breadth. While the global property investment market is predicted to grow by around 6 percent this year, European real estate markets generally experienced a more robust year-on-year progress in 2013.

http://www.lexology.com/library/detail.aspx?g=f3966c79-2329-440d-bd54-7c14c151e65d