News Column

Japan GDP On Tap For Wednesday

August 12, 2014

CANBERA (Alliance News) - Japan will on Wednesday release preliminary Q2 numbers for gross domestic product, highlighting a busy day in Asia-Pacific economic activity.

GDP is expected to plummet 7.1% on year and 1.8% on quarter after spiking 6.7% on year and 1.6% on quarter in the previous three months.

Also, the Bank of Japan will release the minutes from its monetary policy meeting on July 14 and 15. At the meeting, the central bank kept its benchmark interest rate unchanged at 0 to 0.10% while also deciding to continue to increase the monetary base at an annual pace of about 60 to 70 trillion yen.

China will provide July figures for industrial production, retail sales and fixed asset investment. Industrial output is expected to add 9.1% on year, slowing from 9.2% in June. Retail sales are tipped to climb an annual 12.5%, up from 12.4% in the previous month. FAI is called higher by 17.4%, up from 17.3% a month earlier.

Malaysia will release Q2 numbers for gross domestic product and current account. In the previous three months, GDP was up 0.8% on quarter and 6.2% on year. The current account surplus was 19.84 billion ringgit.

Australia will see Q2 data for wage costs, plus August results for the Westpac consumer confidence index.

Wage costs are expected to add 0.7% on quarter and 2.6% on year - unchanged from the previous three months. The consumer confidence index climbed 1.9% in July to a score of 94.9.

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Source: Alliance News

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