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Financial News: Australia GDP Data Due On Wednesday

Australia GDP Data Due On Wednesday

06/01/2021 - 18:00:00 (RTTNews)

(RTTNews) - Australia will on Wednesday release Q1 figures for gross domestic product, highlighting a busy day for Asia-Pacific economic activity.

GDP is expected to add 1.0 percent on quarter and 0.2 percent on year after rising 3.1 percent on quarter and falling 1.1 percent on year in the three months prior.

New Zealand will provide Q1 numbers for import and export prices and terms of trade. Import prices are expected to rise 1.0 percent on quarter after sinking 1.7 percent in the previous three months. Exports prices are tipped to add 0.6 percent after slipping 0.4 percent in Q4. The terms of trade are predicted to add 0.1 percent on quarter, slowing from 1.3 percent in the three months prior.

South Korea will provide May figures for consumer prices, with forecasts suggesting an increase of 0.1 percent on month and 2.6 percent on year. That follows the 0.2 percent monthly increase and the 2.3 percent yearly gain in April.

Indonesia will release May figures for consumer prices, with overall inflation expected to rise 0.32 percent on month and 1.67 percent on year after gaining 0.13 percent on month and 1.42 percent on year in April. Core CPI is tipped to climbed 1.28 percent on year, up from 1.18 percent in the previous month.

Indonesia also will see May results for the manufacturing PMI from Markit Economics; in April, the index score was 54.6.

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