RTTNews - Japan is scheduled to release preliminary first quarter numbers for gross domestic product on Wednesday, headlining a modest day for Asian economic news. Japan also is releasing Q1 data for housing loans and April figures for convenience store sales.

GDP is expected to decline 4.3 percent compared to the previous three months following the 3.3 percent decline in Q4 of 2008. On an annualized basis, GDP is expected to plummet 16.1 percent after the 12.1 percent fall three months earlier. Nominal GDP is called lower by 3.4 percent on quarter after the 1.6 percent fall three months earlier. The GDP deflator is expected to add 1.8 percent on year after the 0.9 percent gain in Q4. Housing loans were up 3.3 percent on year in Q4, while convenience store sales gained an annual 4.2 percent.

Malaysia is scheduled to release April figures for its consumer price index, with analysts looking for an increase of 3.2 percent on year following the 3.5 percent increase in March.

Taiwan will provide current account numbers for the first quarter of 2009. Forecasts call for a surplus of $10.5 billion, up from $7.9 billion in the previous three months.

Thailand's central bank will announce its decision on interest rates, with analysts expecting the bank to pare the rate by 25 basis points from the current 1.25 percent to 1 percent even.

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