Financial News: China Data On Tap For Wednesday

China Data On Tap For Wednesday

03/14/2023 - 18:00:00 (RTTNews)

(RTTNews) - China is scheduled to release a batch of data on Wednesday, highlighting a busy day for Asia-Pacific economic activity. On tap are February figures for industrial production, retail sales, fixed asset investment and unemployment.

Industrial production is expected to rise 2.6 percent on year, up from 1.3 percent in January. Retail sales are expected to bounce higher by an annual 3.5 percent after sinking 1.8 percent in the previous month. FAI is tipped to advance 4.4 percent on year, slowing from 5.1 percent a month earlier. The jobless rate in January was 5.5 percent.

South Korea will provide February numbers for imports, exports and trade balance. In January, imports rose 3.6 percent on year and exports slumped 7.5 percent for a trade deficit of $5.30 billion.

New Zealand will see Q4 data for current account, with forecasts suggesting a deficit of NZ$7.64 billion following the NZ$10.20 billion shortfall in the three months prior.

Singapore will release Q4 data for unemployment; in the three months prior, the jobless rate was 2.0 percent.

Indonesia will provide February figures for imports, exports and trade balance. Imports are expected to jump 9.74 percent on year after adding 1.27 percent in January. Exports are called higher by an annual 5.00 percent, down from 16.37 percent in the previous month. The trade surplus is pegged at $3.27 billion, down from $3.87 billion a month earlier.

The Bank of Japan will release the minutes from its monetary policy meeting on January 17 and 18. At the meeting, the BoJ kept its interest rates unchanged at -0.1 percent and modified some of its lending programs. The bank will also continue to purchase a necessary amount of JGBs without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

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