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Japan GDP Data On Tap For Monday

Japan will on Monday release final Q1 figures for gross domestic product, highlighting a busy day for Asia-Pacific economic activity.

GDP is expected to fall 0.5 percent on quarter and 2.1 percent on year, which represents an upward revision from last month's preliminary reading that suggested a quarterly drop of 0.9 percent and a yearly decline of 3.4 percent. In the fourth quarter of 2019, GDP was down 1.9 percent on quarter and 7.3 percent on year.

Japan also will see May figures for bank lending and April numbers for current account and the eco watchers survey. Bank lending was up 3.0 percent on year in April.

The current account is predicted to show a surplus of 480 billion yen, down from 1,917.0 billion in March. The eco watchers survey for current conditions saw a score of 7.9 in the previous month, while the outlook was at 16.6.

Thailand will provide April numbers for unemployment; in March, the jobless rate was 1.0 percent.

The Philippines will see April data for its retail price index; in March, the index was up 1.1 percent on year.

Taiwan will release April figures for imports, exports and trade balance. Imports are expected to fall 2.10 percent on year after adding 0.5 percent in March. Exports are called lower by an annual 4.73 percent after easing 1.3 percent in the previous month. The trade surplus is pegged at $3.139 billion, up from $2.27 billion a month earlier.

Finally, the markets in Australia are closed on Monday for the queen's birthday and will reopen on Tuesday.

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