RTTNews - Wednesday saw some key statistical data releases from major Asian economies. Official reports showed that orders for Japanese machinery dropped to the lowest level in more than two decades and in China, consumer prices fell for the fourth straight month.
Japan's Cabinet Office said core machinery orders were down 5.4% month-on-month to 688.8 billion yen in April, the lowest in 22 years. That was far worse than analyst expectations for a 0.4% monthly increase following the 1.3% decline in March. On an annual basis, core machinery orders plummeted 32.8%.
On the same day, the Bank of Japan said the price of domestic corporate goods eased 0.4% in May compared to the previous month. Prices fell for the third straight month.
Consumer prices in China were down 1.4% year-on-year in May, data released by the National Bureau of Statistics showed. Prices dropped for the fourth straight month. The data was roughly in line with analyst expectations for a 1.3% annual decline following the 1.5% fall in April.
The NBS also said China's producer prices plummeted 7.2% annually after the 6.6% decline in the previous month. It was the sixth consecutive month of decline.
South Korea's L money supply, representing the country's broadest measure of money supply, rose 9.3% year-on-year in April, slowing from a 10.6% growth in March, the Bank of Korea said.
Elsewhere, the country's National Statistical Office said the jobless rate stood at 3.8% in May, unchanged from April.
A report from the National Statistics Office of Philippines showed that merchandise exports slipped 35.2% year-on-year in April, after a 30.8% fall in March. Economists expected a drop of 33.7%.
Later in the day, the International Monetary Fund said the Philippine economy is likely to shrink 1% this year.
Malaysia's industrial output dropped 11.4% year-on-year in April, after a revised 12.7% decline in March, the Department of Statistics said. Manufacturing output contracted 15.7% in April compared to a revised 17.1% drop in March.
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