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Financial News: Singapore GDP Advance On Tap For Tuesday

Singapore GDP Advance On Tap For Tuesday

07/13/2020 - 18:00:00 (RTTNews)

(RTTNews) - Singapore will on Tuesday see an advance estimate for Q2 gross domestic product, headlining a modest day for Asia-Pacific economic activity.

GDP is expected to plummet 37.4 percent on quarter and 10.5 percent on year after slipping 4.7 percent on quarter and 0.7 percent on year in the previous three months.

China will release June figures for imports, exports and trade balance. Imports are expected to sink 10.0 percent on year after losing 16.7 percent in May. Exports are called lower by an annual 1.5 percent after sliding 3.3 percent in the previous month. The trade balance is tipped to show a surplus of $58.6 billion, down from $62.39 billion a month earlier.

Japan will provide final May numbers for industrial production, with forecasts suggesting a decline of 8.4 percent on month and 25.9 percent on year following the 9.8 percent monthly fall and the 15.0 percent yearly drop in the previous reading.

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