Financial News: Australia GDP Data Due On Wednesday

Australia GDP Data Due On Wednesday

02/28/2023 - 17:30:00 (RTTNews)

(RTTNews) - Australia will on Wednesday release Q4 figures for gross domestic product, highlighting a busy day for Asia-Pacific economic activity. GDP is expected to expand 0.7 percent on quarter and 2.7 percent on year after rising 0.6 percent on quarter and 5.9 percent on year in the previous quarter.

Indonesia will see February numbers for consumer prices, with forecasts suggesting an increase of 0.11 percent on month and 5.44 percent on year for overall inflation. That follows the 0.34 percent monthly increase and the 5.28 percent yearly gain in January.

South Korea will provide February figures for imports, exports and trade balance. Imports are expected to rise 4.0 percent on year after slipping 2.8 percent in January. Exports are called lower by an annual 8.7 percent after sinking 16.6 percent in the previous month. The trade deficit is pegged at E$6.06 billion following the $12.65 billion shortfall a month earlier.

A number of the regional countries will see February results for their respective manufacturing PMI from S&P Global, including Australia (Judo Bank), Indonesia, Japan (Jibun Bank), Malaysia, Myanmar, the Philippines, Taiwan, Thailand, Vietnam and China (Caixin).

Finally, the markets in South Korea are closed on Wednesday for Independence Day and will re-open on Thursday.

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