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Japan is scheduled to release June numbers for consumer price index on Friday, headlining a busy day for Asian economic news. Also due are figures for unemployment, household spending, construction orders and housing starts.
National inflation is expected to fall 1.8 percent on year in June after the 1.1 percent annual decline in May. The July projection for Tokyo inflation is forecast lower by 1.7 percent on year after the 1.3 percent annual contraction in June. The unemployment rate is forecast to creep up to 5.3 percent from the current 5.2 percent. Household spending is called higher by 0.5 percent on year after the 0.3 percent annual increase in the previous month. Construction orders were down 41.9 percent on year in the previous month, while housing starts were down 30.8 percent at 758,000 yen.
South Korea will provide June data for industrial output, service industry output and its leading index. Industrial output is forecast to fall 5.8 percent on year after the 9 percent annual contraction in May. Service industry output came in at 0.2 percent in May, while the leading index saw an increase of 2.6 percent on year in the previous month.
Singapore will announce seasonally adjusted unemployment numbers for the second quarter. Analysts are expecting the rate to climb to 3.7 percent from the current 3.2 percent.
Thailand is set to announce June numbers for imports, exports, trade balance, current account and manufacturing production, as well as foreign reserves figures for the week ending July 24. Imports are forecast lower by 29.6 percent on year, with exports called lower by an annual 26.4 percent for a trade balance of $1.438 billion. The current account is projected at $1.061 billion, while manufacturing production is expected to contract 9.5 percent on year and foreign reserves are seen higher by 122.5 percent on year.
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