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Australia Data On Tap For Wednesday

Australia Data On Tap For Wednesday

Australia is scheduled to release a batch of data on Wednesday, headlining a busy day in Asia-Pacific economic activity. On tap are April figures for building permits, May inflation data and June results for the Westpac consumer confidence index.

Building permits were up 18.9 percent on month in March. Inflation is tipped to fall 0.1 percent on month and rise 1.6 percent on year after slipping 0.3 percent on month and rising 0.9 percent on year in April – while producer prices are expected to jump an annual 8.5 percent after gaining 6.8 percent a month earlier. The consumer confidence index sank 4.8 percent in May to a score of 113.1.

The Philippines will provide April figures for imports, exports and trade balance. In March, imports were up 16.6 percent on year and exports surged an annual 31.6 percent for a trade deficit of $2.412 billion.

New Zealand will see Q1 numbers for manufacturing sales; in the three months prior, manufacturing sales were up 2.0 percent on year.

South Korea will release final Q1 figures for gross domestic product and May unemployment data. The previous reading for GDP suggested an increase of 1.2 percent on quarter and a decline of 1.2 percent on year, The jobless rate in April was 3.7 percent.

The material has been provided by InstaForex Company – www.instaforex.com