Japan Data On Tap For Friday

Japan is scheduled to release a raft of data on Friday, setting the pace for a busy day in Asia-Pacific economic activity. On tap are January numbers for consumer prices, household spending, unemployment, industrial production, retail sales, housing starts, construction orders and vehicle production.

Inflation is expected to hold steady at 2.4 percent, while core inflation is expected to dip to 2.3 percent from 2.5 percent in December. Household spending is expected to contract 4.1 percent on year after shedding 3.4 percent in the previous month. The jobless rate is called steady at 3.4 percent.

Industrial production is tipped to add 2.7 percent on month but fall 3.1 percent on year after gaining 0.8 percent on month and 0.1 percent on year a month earlier. Retail sales are forecast to fall 0.4 percent on month and 1.2 percent on year after falling 0.4 percent on month and rising 0.1 percent on year in December.

Housing starts are expected to tumble 11.6 percent on year after falling 14.7 percent in the previous month. Construction orders climbed 7.5 percent on year in December, while vehicle production dipped an annual 2.5 percent.

New Zealand will release January numbers for building permits, and also see February results for the business confidence survey from NBNZ. Permits fell 2.1 percent on year in December, while the business confidence index had a score of 30.4.

Australia will see January figures for private sector credit, with forecasts suggesting an increase of 0.5 percent on month and 6.0 percent on year. That follows the 0.5 percent monthly increase and the 5.9 percent yearly gain in December.

Thailand will provide January data for manufacturing production, current account and trade balance. Manufacturing is expected to decline 0.9 percent following the 0.35 percent drop in December. The current account is tipped to show a surplus of $2.80 billion, down from $5.523 billion in the previous month. The trade balance is projected to show a surplus of $2.10 billion, down from $3.640 billion a month earlier.

Finally, the markets in Taiwan will be closed on Friday in observance of Peace Memorial Day, and will re-open on Monday.

The material has been provided by InstaForex Company – www.instaforex.com

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