July 2016 cable raw materials (aluminum) monthly report

In China, China's economic operation in the first half of the year was generally stable, steady and progressive, the economic growth rate was in a reasonable range, and the price and employment situation remained stable
.
After the Brexit referendum, the external environment facing China's economic operation has become more complicated
.
The Chinese government maintains the stability and continuity of macroeconomic policies, while focusing on supply-side structural reforms, which is also the only way
to solve structural problems such as excess capacity.
Overall, China faces daunting short-term challenges, risks to the economy, and a weak recovery
in the throes of structural reforms.

In the United States, the data released by the United States were mixed, the Fed's hawkish comments were crushed by the lower economic growth rate in the second quarter than expected, and the market's expectations for the Fed's interest rate hike did not improve
.
Economic accounting data showed that the annualized preliminary growth rate of US GDP in the second quarter was 1.
2%, significantly lower than the expected value of 2.
5%, and the previous value was revised from 1.
1% to 0.
8%.

By item, corporate inventories fell by $8.
1 billion in the second quarter, the first decline
since the third quarter of 2011.

In Europe, Eurozone GDP grew 1.
6% year-on-year in the second quarter, better than expected by 1.
5% and 1.
7%
in the previous month.
The French and Austrian economies stalled in the second quarter, while Spain grew at its weakest
pace in six quarters.
Although economists expect the UK economy to fall into a small recession in the second half of the year, surveys show that the current Brexit vote has not had a significant impact
on the entire European economy.
This conclusion is also confirmed in another figure
.
Eurozone sentiment unexpectedly rose to 104.
6 in July, higher than expectations of 103.
5 and 104.
4
previously.
This data also shows that Brexit's pressure on the region's economic sentiment index is not as great as expected, and the impact of Brexit on the eurozone economy may not be as bad
as the market fears.
However, the exact impact will need to be further observed in the coming months
.