The first half, walking around in the stainless steel market, we always use "stainless steel winter" to describe the dismal turnover, performance, profit and expected. More pessimistic in the telecommunications industry, the autumn of 2013 is expected be stainless steel, real winter in 2015. Fortunately, the world seems to have heard the prayers of our stainless steel Associates, in the hot sun the Sun in August, we have round predicts global economy data, not only China, the United States, Europe and even forgotten by the world economy 20 years in Japan, and debt-laden Greece, have came to the good economic data. We cannot help but rejoice, stainless steel winter is finally over, we will have another spring.
First of all, let us to focus on the recovery in the developed economies, according to Bridgewater Fund data shows, including Japan and the United States and Europe, the developed economies to $ 74 trillion of the total contribution rate of the global economy since the middle of 2007 surpassed China, India and Brazil and other emerging economies. As the global engine of growth since the financial crisis is gradually giving way to the role of emerging economies in developed economies.
One of the driving forces behind the changes is the Japan economic revival. For years, Japan economy has always been a weakness of the global economy, but economists expected last quarter Japan annualised gross domestic product (GDP) growth to reach 3.6%, although not 4.1% increase in the first quarter, but has dramatically changed the number of consecutive years of stagnation. Japanese Central Bank's monetary policy Committee unanimously decided that the QE launched in April this year remains unchanged, while maintaining the economy's "mild" global recovery of assessment does not change.
Recovery in the United States also achieved a moderate but steady economic growth. United States July ISM non-manufacturing PMI rose to 56 in June from 52.2, its highest level since February. July United States retail sales than in the previous month increased by 0.2% over the same period last year increased by 5.4% in July, NFIB Small Business optimism index to 94.1 points in June, rose 0.6 points, recovered most of the decline in June, its highest level since December 2007.
In Europe, the July Markit eurozone composite purchasing managers ' index (PMI) rose to 50.5%, a record since August 2011, and rebounded for the first time in 18 months to 50 to flourish over the watershed. Among them, United Kingdom July composite PMI of 56.9 per cent to 60.2 from June, a 6.5-year record. Germany, adjusted exports rose 0.6% in the June quarter, showed the country's economic weakness followed by a slow return to growth in the near future. The euro zone's second-quarter gross domestic product (GDP), preliminary data showed that euro-zone economies of scale in the first quarter and expanded by 0.2%. This would be the clearest signal, indicating that for Europe, most serious peacetime economic turmoil since the great depression has ended. Evidence of business activities and feel better, July continued the tentative economic recovery.