China Data On Tap For Wednesday

China will release a raft of data on Wednesday, highlighting a busy day for Asia-Pacific economic activity. On tap are May figures for fixed asset investment, industrial production, retail sales and unemployment.

Investment is expected to rise 6.0 percent on year, slowing from 6.8 percent in April. Production is expected to fall 0.7 percent on year after sinking 2.9 percent in the previous month. Sales are predicted to slump 7.1 percent on year after dropping 11.1 percent a month earlier. The jobless rate in April was 6.1 percent.

South Korea will see May unemployment data; in April, the jobless rate was 2.7 percent.

Indonesia will provide May numbers for imports, exports and trade balance. Imports are expected to surged 34.32 percent on year, accelerating from 21.97 percent in April. Exports are called higher by an annual 39.35 percent, slowing from 47.76 percent in the previous month. The trade surplus is pegged at $3.5 billion, down from 7.56 billion a month earlier.

Japan will release April numbers for core machine orders and for its tertiary industry index. Orders are expected to slip 1.5 percent on month and climb 5.3 percent on year after advancing 7.1 percent on month and 7.6 percent on year in March. The tertiary industry index was up 1.3 percent on month in March.

New Zealand will see Q1 figures for current account, with forecasts suggesting a decline of NZ$5.5 billion following the NZ$7.26 billion shortfall in the previous three months.

Australia will see June results for the Westpac Consumer Confidence Index; in May, the index slipped 5.6 percent to a score of 90.4.

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