Asia week ahead: Key data on China, Taiwan, India, Japan, Korea
China: Strong trade growth and higher inflation China releases trade and inflation data. Trade has been very strong year-to-date, and we expect this to continue into August. We’re looking for export growth of 24.1% year-on-year and import growth of 32.4%, bringing the August trade surplus to $107.0bn. We’re also expecting CPI inflation to rebound moderately ...
China's trade growth and inflation data for August are expected to show strong year-on-year increases, with exports growing by 24.1% and imports rising by 32.4%, resulting in a trade surplus of $107.0bn. Inflation is anticipated to rebound to 0.9% YoY, driven by fuel price increases. In Taiwan, prices are expected to moderate slightly, remaining above the 2.3% YoY target, while export orders remain robust.
India is bracing for a rise in CPI inflation to 4.7% YoY, primarily due to weak monsoon impacts on food prices and the impact of higher fuel costs on core inflation. Japan's revised Q2 GDP and July current account data are anticipated to show a quarter-on-quarter GDP growth of 0.4% (1.8% annualised) and a rebounding current account surplus of JPY 285bn.
The country's PPI is expected to accelerate to 7.4% YoY in August, indicating sustained upstream price pressures. South Korea's revised Q2 GDP data is projected to confirm continued robust growth, with an unchanged quarter-on-quarter growth rate of 0.6% and a 3.7% YoY growth rate.
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