NEW DELHI (dpa-AFX) - Japan is scheduled to release a raft of data on Wednesday, setting the pace for a busy day in Asia economic news. On tap are October figures for industrial production, labor cash earnings, vehicle production, housing starts and construction orders. Also due is the November Nomura/JMMA Manufacturing PMI.
Industrial output is expected to rise 1.1 percent on month and fall 1.0 percent on year after shedding 3.3 percent on month and 3.3 percent on year in September. Labor cash earnings are expected to ease 0.2 percent on year following the downwardly revised 0.4 percent contraction in the previous month. Vehicle production saw an annual decline of 4.5 percent in September. Housing starts are tipped to fall 6.3 percent on year after plummeting 10.8 percent a month earlier. Construction orders were down 9.3 percent on year in September, while the Nomura PMI saw a score of 50.6 in October.
South Korea will provide October figures for industrial production, with forecasts suggesting an increase of 5.4 percent on year following the 6.8 percent jump in September.
India will release gross domestic product figures for the third quarter of 2011, with analysts expecting an increase of 6.8 percent on year following the 7.7 percent surge in the previous three months.
Thailand will announce October numbers for imports, exports, trade balance and current account, and the central bank will also announce its decision on interest rates. Imports are expected to jump 25.6 percent on year after surging 42.6 percent in September. Exports are called lower by 0.2 percent on year after adding 18.4 percent in the previous month. The trade balance is expected to reflect a surplus of $332 million, down from $2.4 billion a month earlier. The current account is expected to show a deficit of $256 million after posting a $400 million surplus in September. The central bank is expected to lower rates by 25 basis points, from 3.50 percent to 3.25 percent.
Finally, the Philippines stock market is closed on Wednesday for Bonifacio Day. It will re-open on Thursday.
Copyright RTT News/dpa-AFX