Japan GDP Data On Tap For Tuesday

(RTTNews) - Japan will on Tuesday release preliminary Q2 numbers for gross domestic product, highlighting a busy day for Asia-Pacific economic activity. GDP is expected to expand 0.8 percent on quarter and 3.1 percent on year after rising 0.7 percent on quarter and 2.7 percent on year in the three months prior.

Japan also will see final June figures for industrial production, with forecasts calling an increase of 2.0 percent on month after slipping 2.2 percent in May. Capacity utilization is seen lower by 1.6 percent on month after slumping 6.3 percent a month earlier.

The Reserve Bank of Australia will release the minutes from its Aug. 1 monetary policy meeting. At the meeting, the RBA left its benchmark interest rate unchanged at 4.10 percent for the second straight meeting, in order to assess the impact of the past tightening on the economic activity.

Australia also will see Q2 numbers for wage prices, with forecasts suggesting an increase of 1.0 percent on quarter and 3.8 percent on year - up from 0.7 percent on quarter and 3.7 percent on year in Q1.

South Korea will see July data for imports, exports and trade balance. In June, imports were down 25/4 percent and exports sank 16.5 percent for a trade surplus of $1.63 billion.

China will provide July numbers for industrial production, retail sales, fixed asset investment and unemployment. Production is expected to rise 4.5 percent on year, up from 4.4 percent in June. Sales are tipped to climb an annual 4.8 percent, up from 3.1 percent a month earlier. FAI is called steady at 3.8 percent, and the jobless rate also is seen unchanged at 5.2 percent.

Indonesia will release July data for imports, exports, trade balance and retail sales. Imports are predicted to tumbled 15.45 percent on year after dropping 18.35 percent in June. Exports are called lower by an annual 17.75 percent after plunging 21.18 percent in the previous month. The trade surplus is pegged at $2/53 billion, down from $3/46 billion a month earlier. Retail sales were down 4.5 percent on year in June.

Thailand will see Q2 figures for gross domestic product; in the three months prior, GDP was up 1.9 percent on quarter and 2.7 percent on year.

Finally, the markets in South Korea are closed on Tuesday for Liberation day and will re-open on Wednesday.