_Economy and Finance

Chile: Two Activity Roads Diverged More Nader Nazmi, Oscar Munoz - Market Economics Latam Macro Snapshot | 28 Jun 2013 18:26 | 242 Kb Supply and demand data diverged further in May. Retail sales data showed continued strong consumer demand while manufacturing and IP data reflected slowing production. Manufacturing production declined 4.2% y/y in May, surprising our and market expectations projecting expansions of 1.3% and 1.7% y/y, respectively. The setback in manufacturing production was broad-based with eight of its thirteen divisions retreating in the month. Apart from being impacted by a high comparison base, the main contribution to the annual contraction came from lower production of chemicals (-12.6% y/y).

Commerzbank Corporates & Markets Economic Research https://research.commerzbank.com Economic Briefing Germany: Inflation back in the 2% area German consumer prices surprisingly rose 0.2% month-on-month in June. Food prices were up significantly once again, probably at least in part due to the floods in Germany. Numerous services became more expensive as well. This development seems to be a consequence of strong wage growth. The rate of inflation jumped from 1.5% in May to 1.9% in June. Kind regards, Ulrike Rondorf

http://www.ft.com/intl/cms/s/0/beb522f2-da80-11e2-a237-00144feab7de.html#axzz2ovCeaSgm June 23, 2013 4:57 am Brookfield overtakes CBRE as top real estate manager By Steve Johnson Los Angeles-based CBRE Global Investors has lost its position as the world’s largest real estate fund manager.

Money never sleeps pal. - Michael Douglas as Gordon Gekko from Wall Street (1987)

http://sf.uli.org/san-francisco/bay-area-office-market-still-hot/ Bay Area Office Market Still Hot Posted on June 20, 2013 by ULI On Tuesday, June 11 well over two hundred industry enthusiasts gathered at the Hyatt Regency in San Francisco to hear the office sector’s finest professionals opine on market conditions as well as inform attendees about their current projects.

MELBOURNE DOCKLANDS NEW HOME TO MARSH & MCLENNON COMPANIES' THIRD LARGEST OFFICE Australia, Melbourne Publication date: 17 June 2013 Melbourne is now home to Marsh & McLennan Companies’ (NYSE: MMC) third largest office worldwide, behind only New York and London. The relocation of the Melbourne headquarters of Mercer, Marsh, Guy Carpenter and Oliver Wyman to the newly-built Collins Square development at 727 Collins Street adds further support to Docklands’ claim of being Melbourne’s financial services hub. http://www.mercer.com/press-releases/office-move-docklands

Melbourne office market weakness to be sustained beyond 2013 – New BIS Shrapnel report by BIS Shrapnel The new BIS Shrapnel Melbourne Commercial Property Prospects 2013-2023 report reveals sustained weakness in the Melbourne office market. http://www.infolink.com.au/c/BIS-Shrapnel/Melbourne-office-market-weakness-to-be-sustained-beyond-2013-New-BIS-Shrapnel-report-n2502654