China Trade Data On Tap For Tuesday

(RTTNews) - China will on Tuesday release July figures for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity.

Imports are expected to fall 5.6 percent on year after sinking 6.8 percent in June. Exports are called lower by an annual 9.8 percent after dropping 12.4 percent in the previous month. The trade surplus is pegged at $67.80 billion, down from $70.62 billion a month earlier.

Japan will provide June numbers for household spending and current account, as well as July data for bank lending. Household spending is expected to add 0.3 percent on month and fall 4.1 percent on year after slipping 1.1 percent on month and 4.0 percent on year in May.

The current account is expected to show a surplus of 1.395 trillion yen, down from 1.862 trillion yen in May. Overall bank lending is expected to gain 3.1 percent on year, easing from 3.2 percent in June.

South Korea will see June data for current account, with forecasts suggesting a surplus of $0.26 billion, down from $1.93 billion in May.

Australia will release June numbers for building approvals and see July results for the business confidence index from National Australia Bank. Overall building approvals are expected to sink 18.0 percent on year after falling 9.8 percent in May. The business confidence index is expected to see a score of -1, down from 0 in June.

Malaysia will provide Juen data for industrial production, with analysts expected a decline of 1.0 percent on year following the 4.7 percent increase in May.

Taiwan will see July figures for imports, exports, trade balance and inflation. Imports are expected to tumble 25.0 percent on year after plunging 29.9 percent in June. Exports are seen lower by an annual 20.1 percent after sinking 23.4 percent in the previous month. The trade surplus is pegged at $5.64 billion, down from $5.96 billion.