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Financial News: Japan Data On Tap For Friday

Japan Data On Tap For Friday

08/29/2019 - 18:00:00 (RTTNews)

(RTTNews) - Japan is scheduled to release a raft of data on Friday, setting the pace for a busy day in Asia-Pacific economic activity. On tap are July figures for industrial production, retail sales, unemployment, housing starts and construction orders, as well as August numbers for Tokyo inflation.

Industrial production is expected to add 0.3 percent on month and fall 0.5 percent on year after sliding 3.3 percent on month and 3.8 percent on year in June. Retail sales are tipped to shed 0.9 percent on month and 0.6 percent on year after the flat monthly reading and the 0.5 percent yearly gain in June. Large retailer sales are tipped to tumbled an annual 4.5 percent after falling 0.5 percent a month earlier.

The jobless rate is expected to hold steady at 2.3 percent, while the job-to-applicant ratio is also called unchanged at 1.61. Housing starts are predicted to sink 5.4 percent on year after adding 0.3 percent in the previous month.

Overall Tokyo inflation is predicted to rise 0.6 percent on year, slowing from 0.9 percent in July. Core CPI is called at 0.8 percent, down from 0.9 percent a month earlier.

The Bank of Korea will wrap up its monetary policy meeting and announce its decision on interest rates; the bank is expected to keep its benchmark lending rate unchanged at 1.75 percent.

South Korea also will see July numbers for industrial production and retail sales. In June, industrial production was up 0.2 percent on month and down 1.1 percent on year, while retail sales fell 1.67 percent on month and rose 1.2 percent on year.

New Zealand will see July numbers for building permits and August results for the consumer confidence index from ANZ. In June, building permits fell 3.9 percent on month. In July, the consumer confidence index dropped 5.1 percent on month to a score of 116.4.

Australia will release July numbers for building approvals and private sector credit. Approvals are called flat on month and down 22.2 percent on year after falling 1.2 percent on month and 25.6 percent on year in June. Private sector credit is expected to add 0.2 percent on month and 3.2 percent on year after gaining 0.1 percent on month and 3.3 percent on year in June.

Hong Kong will see July numbers for retail sales; in June, sales were down 7.6 percent on year.

The Philippines will provide July figures for producer prices; in June, producer prices were down 0.4 percent on month and up 1.0 percent on year.

Thailand will release July results for imports, exports and trade balance, as well as Q2 figures for current account. In June., imports were worth $16.90 billion and exports were at $21.30 billion for a trade surplus of $4.40 billion. The current account surplus in Q1 was $14.60 billion.

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