Australia GDP Data Due On Wednesday
(RTTNews) - Australia will on Wednesday release Q1 numbers for gross domestic product, highlighting a busy day for Asia-Pacific economic activity.
GDP is expected to rise 0.5 percent on quarter and 2.7 percent on year after gaining 0.8 percent on quarter and 2.6 percent on year in the three months prior.
Australia also will see April numbers for private sector credit and May results for the services and composite PMIs from S&P Global, and for the manufacturing and construction indexes from AiG.
Private sector credit is expected to rise 0.6 percent on month, easing from 0.7 percent in March. The services and composite PMIs were at 50.7 and 50.4, respectively, in April. The manufacturing and construction indexes had scores of -27.9 and -19.3, respectively.
New Zealand will provide April figures for building consents and Q1 data for terms of trade. In March, consents were down 1.3 percent on month. Terms of trade are expected to sink 1.2 percent on quarter after rising 3.7 percent in the previous three months.
Japan will see May results for the services and composite PMIs from S&P Global; in April, their scores were 51.0 and 52.2, respectively.
Finally, the markets in South Korea (Election Day) and Thailand (Queen Suthida's birthday) are closed on Wednesday and will return to trade on Thursday.
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