Financial News: Australia Unemployment Data Due On Thursday

Australia Unemployment Data Due On Thursday

03/15/2023 - 18:00:00 (RTTNews)

(RTTNews) - Australia will on Thursday release February figures for unemployment, highlighting a busy day for Asia-Pacific economic activities.

The jobless rate is expected to ease to 3.6 percent from 3.7 percent in January, with the addition of 48,500 jobs following the loss of 11,500 a month earlier. The participation rate is expected to increase from 66.5 percent to 66.6 percent.

New Zealand will provide Q4 numbers for gross domestic product, with forecasts suggesting a decline of 0.2 percent on quarter and an increase of 3.3 percent on year. That follows the 2.0 percent quarterly increase and the 6.4 percent yearly gain in the three months prior.

Japan will release January numbers for industrial production and core machinery orders, plus February trade data. Industrial production is expected to slip 4.6 percent on month, unchanged from the estimate earlier this month. Core machine orders are tipped to rise 1.8 percent on month and fall 3.5 percent on year after adding 1.6 percent on month and falling 6.6 percent on year in December.

Imports are expected to rise 12.2 percent on year, slowing from 17.5 percent in January. Exports are called higher by an annual 7.1 percent, up from 3.5 percent in the previous month. The trade deficit is pegged at 1,069.4 billion yen following the 3,498.6 billion yen shortfall a month earlier.

China will release February data for house prices; in January, prices were down 1.5 percent on year.

Hong Kong will provide February figures for unemployment; in January, the jobless rate was 3.4 percent.

The central bank in Indonesia will wrap up its monetary policy meeting and then announce its decision on interest rates. The central bank is expected to keep its benchmark lending rate unchanged at 5.75 percent.

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