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Financial News: Japan GDP Data On Tap For Wednesday

Japan GDP Data On Tap For Wednesday

06/07/2022 - 18:00:00 (RTTNews)

(RTTNews) - Japan will on Wednesday release final Q1 figures for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GDP is expected to sink 0.3 percent on quarter and 1.0 percent on year after rising 0.9 percent on quarter and 3.8 percent on year in the three months prior.

Japan also will see April numbers for current account and May data for bank lending and the eco watchers survey. The current account is expected to show a surplus of 511 billion yen, down from 2,549.3 billion yen in March. The eco watchers survey for current conditions had a score of 50.4 in April, while the outlook was at 50.3. Overall bank lending was up 0.9 percent on year in April.

South Korea will provide final Q1 numbers for gross domestic product, with forecasts suggesting an increase of 0.7 percent on quarter and 3.1 percent on year. That follows the 1.2 percent quarterly increase and the 4.2 percent yearly gain in the previous three months.

Taiwan will release May figures for imports, exports and trade balance. Imports are expected to jump 19.75 percent on year, down from 26.7 percent in April. Exports are called higher by an annual 13.0 percent, easing from 18.8 percent in the previous month., The trade surplus is pegged at $4.6 billion, down from $4.91 billion a month earlier.

The central bank on Thailand will wrap up its monetary policy meeting and then announce its decision on interest rates; the bank is expected to keep its benchmark lending rate steady at 0.40 percent.

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