Financial News: China Data On Tap For Wednesday

China Data On Tap For Wednesday

(RTTNews) - China is scheduled to release a batch of economic data on Wednesday, highlighting a busy day for Asia-Pacific economic activity. On tap are Q2 figures for gross domestic product, as well as June numbers for industrial production, retail sales, fixed asset investment, house prices and unemployment.

GDP is expected to rise 0.9 percent on quarter and 4.2 percent on year after adding 1.3 percent on quarter and 5.0 percent on year in the three months prior.

Industrial output is tipped to improve 4.7 percent on year, up from 4.5 percent in May. Sales are seen lower by an annual 0.1 percent after sinking 0.6 percent in the previous month. FAI is expected to drop 5.0 percent on year after slumping 4.1 percent a month earlier. In May, house prices sank 3.5 percent on year and the jobless rate was 5.1 percent.

South Korea will provide June data for imports, exports, trade balance and unemployment. In May, imports were up 30.1 percent on year and exports rose an annual 70.9 percent for a trade surplus of $36.15 billion, while the jobless rate was 2.8 percent.

New Zealand will see June results for electronic card retail sales; in May, sales were up 1.7 percent on month and 3.3 percent on year.

Japan will release May figures for core machinery orders and for its tertiary industry activity index. Core machinery orders are expected to fall 4.2 percent on month and climb 12.9 percent on year after gaining 8.7 percent on month and 15.6 percent on year in April. The tertiary industry index was a score of 10.6 in April.

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