May 2016 cable raw materials (aluminum) monthly report

1.
The annualized quarter-on-quarter revised value of US real GDP in the first quarter was 0.
8%, 0.
9% expected, and 0.
5%
in the previous month.
U.
S.
personal consumption expenditures (PCE) were revised 1.
9% annualized quarter-on-quarter in the first quarter, versus 2.
1% expected and 1.
9%
prior.
The US GDP deflator for the first quarter was revised by 0.
6% vs 0.
7% expected and 0.
7%
prior.
The U.
S.
core personal consumption expenditures (PCE) price index for the first quarter was revised 2.
1% annualized quarter-on-quarter, 2.
1% expected, and 2.
1%
previously.

2.
US industrial output in April was 0.
7% month-on-month, 0.
3% expected, and -0.
6% in the previous month was revised to -0.
9%.

U.
S.
manufacturing output rose 0.
3% m/m in April, the first increase in three months, 0.
3% expected, -0.
3%
prior.
U.
S.
equipment usage in April was 75.
4% vs.
75.
0% expected, revised to 74.
9%
in the previous month from 74.
8%.

3.
The US CPI in April was 1.
1% year-on-year, 1.
1% expected, and 0.
9%
in the previous month.
US CPI in April was 0.
4% month-on-month, the largest increase since February 2013; 0.
3% expected, 0.
1%
prior.
US core CPI for April was 2.
1% y/y vs 2.
1% expected and 2.
2%
prior.
US core CPI for April was 0.
2% m/m vs 0.
2% expected and 0.
1%
prior.

4.
Eurozone core CPI for April was 0.
8% year-on-year, 0.
9% expected, and 1%
in the previous month.
Eurozone April CPI preliminary -0.
2% y/y versus -0.
1%
expected.
Eurozone GDP in the first quarter was 1.
6% year-on-year preliminary versus 1.
4% expected and 1.
6%
prior.
Eurozone Q1 GDP was 0.
6% q/q, a one-year high, 0.
4% expected and 0.
3%
prior.

5.
The final value of the Eurozone manufacturing PMI in April was 51.
7, 51.
5 expected, and the preliminary value was 51.
5; the final value in March was 51.
6
.
Eurozone composite PMI final for April 53, 53 expected, preliminary 53, March final 53.
1
.
Eurozone services PMI final value for April was 53.
1 vs 53.
2 expected, preliminary value 53.
2, March final value 53.
1
.

6.
China announced that the Caixin manufacturing PMI for April was 49.
4, below the 50 boom and bust line for the 14th consecutive month, with an expectation of 49.
8 and a previous value of 49.
7
.
From the breakdown data, the manufacturing output index was above 50 in March and fell back below 50 in April
.
Overall employment continued to decline in April, falling only slightly below the highest post-global financial crisis recorded in February
.
The performance of manufacturing data is still weak, and the two major manufacturing data have diverged, partly reflecting the intensification
of domestic enterprise differentiation.