Australia GDP Data On Tap For Wednesday
(RTTNews) - Australia will on Wednesday release Q1 figures for gross domestic product, highlighting a busy day for Asia-Pacific economic activity.
GDP is expected to rise 0.8 percent on quarter and 2.7 percent on year after adding 0.5 percent on quarter and 2.7 percent on year in the previous three months. Capital expenditure is expected to fall 5.6 percent on quarter after slipping 1.4 percent in the three months prior.
Australia also will see May results for the construction and manufacturing indexes from the Australian Industry Group; in April, they were at -12.4 and -20.2, respectively.
Japan will see preliminary April results for its leading and coincident indexes; in March, they were down 0.5 percent and up 0.1 percent, respectively.
Taiwan will provide May figures for imports, exports and trade balance. Imports are expected to sink 18.0 percent on year after dropping 20.2 percent in April. Exports are called lower by an annual 18.2 percent after shedding 13.3 percent in the previous month. The trade surplus is pegged at $3.70 billion, down from $6.71 billion a month earlier.
China will release May numbers for imports, exports and trade balance. Imports are expected to fall 8.0 percent on year after losing 7.9 percent in April. Exports are called higher by an annual 8.0 percent, easing from 8.5 percent in the previous month. The trade surplus is pegged at $71.60 billion, down from $90.21 billion a month earlier.
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