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Financial News: Australia GDP Data Due On Wednesday

Australia GDP Data Due On Wednesday

09/04/2018 - 18:00:00 (RTTNews)

(RTTNews) - Australia will on Wednesday release Q2 numbers for gross domestic product, highlighting a busy day for Asia-Pacific economic activity.

GDP is expected to gain 0.7 percent on quarter and 2.8 percent on year, slowing from 1.0 percent on quarter and 3.1 percent on year in the three months prior.

Australia also will see August results for the Performance of Service Index from AiG; in July, the index score was 53.6.

China will see August results for the services and composite PMIs from Caixin; in July, their scores were 52.8 and 52.3, respectively.

Japan will provide August figures for the services and composite PMIs from Nikkei; in July, their scores were 51.3 and 51.8, respectively.

New Zealand will release Q2 numbers for volume of all building and also see August results for the commodity price index from ANZ. The volume of building is expected to rise 2.9 percent on quarter after easing 09 percent in Q1. Commodity prices sank 3.2 percent in July.

The central bank in Malaysia will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate unchanged at 3.25 percent.

Malaysia also will see July numbers for imports, exports and trade balance. In June, imports were worth 72.6 billion ringgit and exports were at 78.7 billion ringgit for a trade surplus of 6.1 billion ringgit.

The Philippines will release Q2 figures for unemployment and August data for inflation. In Q1, the jobless rate was 5.5 percent and the participation rate was 62.2 percent. In July, inflation was up 0.5 percent on month and 5.7 percent on year.

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