RTTNews - Japan is scheduled to release preliminary industrial production numbers for July on Monday, headlining a busy day for Asia-Pacific economic news. Japan also is set to announce July numbers for retail sales, loans and discounts, labor cash earnings, housing starts and construction orders.
Industrial production is expected to plummet 23.1 percent on year following the 23.5 percent annual contraction in June. On month, output is expected to gain 1.4 percent after the 2.3 percent increase in the previous month. Retail sales are expected to fall 0.5 percent on month and 3.5 percent on year after shedding 0.2 percent on month and an annual 2.9 percent in June. Loans and discounts are expected to add 2.6 percent on year, holding steady from June's reading. Labor cash earnings are called lower by 6.3 percent on year following the 7.0 percent fall a month earlier. Housing starts are predicted to plunge 30.3 percent on year after the 32.4 percent annual contraction in June. Construction orders fell 28 percent on year in June. Finally, Bank of Japan Governor Masaaki Shirakawa is scheduled to speak at a business meeting in Osaka.
Australia will announce inflation estimates for August, new home sales and private sector credit for July and operating profit and inventories for the second quarter. The inflation estimates from the previous month were up 0.9 percent on month and 1.9 percent on year. New home sales inched up 0.5 percent on month in June. Private sector credit is expected to add 0.2 percent on month and 3.0 percent on year after gaining 0.1 percent on month and 3.4 percent on year in June.
South Korea will announce July figures for industrial output and leading index. Output is expected to decline 1.1 percent on year after falling 1.2 percent on year in June. The leading index posted a score of 6 in the previous month.
Thailand will announce July numbers for imports, exports and trade balance, as well as current account and manufacturing production. Imports are expected to plunge 32.1 percent on year following the 26.3 percent annual contraction in June. Exports are called lower by 25.7 percent on year after the 26.4 percent annual decline in the previous month. The trade balance is expected to reflect a surplus of $857.9 million after the $939 million surplus a month earlier. The current account is expected to come in at $681.8 million after showing $477 million in June. Manufacturing production is forecast to contact 7 percent on year after falling 7.8 percent on year a month earlier.
Finally, the Malaysian stock market is closed on Monday in honor of National Day, while the Philippines bourse is closed in observance of Heroes' Day. Both markets will re-open on Tuesday.
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