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Asian Economic News

China Data On Tap For Thursday

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

China is scheduled to release a raft of data on Thursday, highlighting a busy day for Asia-Pacific economic activity. On tap are July figures for consumer prices, producer prices, industrial production, retail sales and fixed asset investment.

Inflation is expected to come in at 1.7 percent, dipping from 2.2 percent in June, while producer prices are expected to contract 2.5 percent after shedding 2.1 percent in the previous month. Industrial production is called higher by 9.7 percent on year, up from 9.5 percent a month earlier. Retail sales are tipped to rise an annual 13.5 percent, slowing from 13.7 percent in June. FAI is projected to climb 20.6 percent on year, up from 20.4 percent in the previous month.

Japan also has a batch of figures on tap, including June figures for core machine orders and money stock, Q2 data for housing loans, July numbers for consumer confidence and machine tool orders - as well as a rate decision from the Bank of Japan.

Machine orders are expected to jump 12.0 percent on month but fall 4.5 percent on year after plunging 14.8 percent on month and adding 1.0 percent on year in May. The M2 money stock is expected to remain unchanged, up 2.2 percent on year, while M3 is tipped to ease from 2.0 percent higher on year to 1.9 percent. Housing loans were up an annual 2.4 percent in the first quarter. The consumer confidence index is projected as unchanged, holding steady at the score of 40.4 from June, while machine tool orders plunged an annual 15.5 percent in June. The Bank of Japan is expected to keep rates unchanged at 0.1 percent, and also to hold off on any other monetary easing.

Australia will provide unemployment data for July, with analysts expecting the rate to climb to 5.3 percent from 5.2 percent in June. Forecasts suggest an increase of 10,000 jobs following the loss of 27,000 jobs in the previous month.

New Zealand will release unemployment numbers for the second quarter of 2012, with the rate expected to ease to 6.5 percent from 6.7 percent in the first quarter. Also due are consumer confidence figures for August; the index added 4.4 percent on month in July to a score of 110.5.

South Korea's central bank will conclude its monetary policy meeting and then announce its decision on interest rates. The Bank of Korea is widely expected to keep rates unchanged at 3.00 percent.

Malaysia will see industrial production numbers for June. Output is tipped to rise 4.25 percent on year after adding 7.6 percent on year and 3.0 percent on month in May.

The central bank in Indonesia will conclude its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep rates on hold at 5.75 percent.

Finally, Singapore's Straits Times Index will be closed on Thursday in observance of the National Day holiday. It will re-open on Friday.

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