July 2018 cable raw materials (rubber) monthly report

1.
Macroeconomic news

1.
The annualized quarterly preliminary value of real GDP in the United States in the second quarter was 4.
1%, the highest growth rate since the third quarter of 2014, expected to be 4.
2%, and the previous value was revised from 2% to 2.
2%.

Personal consumption expenditures (PCE) for the second quarter were 4% annualized quarter-on-quarter versus 3% expected, revised to 0.
5% from 0.
9%
prior.
Q2 core personal consumption expenditures (PCE) were 2% annualized q/q vs.
2.
2% expected, revised to 2.
2%
prior-year from 2.
3%.
Benefiting from factors such as increased consumer spending, the US economy grew at the fastest pace in nearly four years in the second quarter
.
With government spending rising, real GDP in the second quarter was 4.
1% annualized quarter-on-quarter, which was also the strongest performance
since the third quarter of 2014.

2, the three groups of manufacturing PMI in the euro area are higher than expected, but the service PMI is less than expected across the board, except for Germany, the composite PMI is also less than expected, the euro area July composite PMI preliminary future output index fell to a 20-month low, the analysis believes that due to concerns about US trade issues and the slowdown in global economic growth led to a further deterioration of optimism, the euro area economic growth is expected to continue to slow down
in the second half of the year.
However, growth remained solid
.

The official manufacturing PMI in March and July was 51.
2%, down from the previous month, but it has been above the boom and bust line for 24 consecutive months
.
The official non-manufacturing PMI for July was 54%.

On the 26th, the International Monetary Fund (IMF) released its 2018 annual report on China's economy, that is, the Article IV Consultation Report
, in Washington.
The report notes that China's economy continues to perform strongly
.
China has made progress
in reforms in several key areas.