2023.06.0722:00:00UTC+00Japan GDP Data Due On Thursday

Japan will on Thursday release Q1 numbers for gross domestic product, highlighting a modest day for Asia-Pacific economic activity.

GDP is expected to add 0.4 percent on quarter and 1.6 percent on year following the flat quarterly reading and the 0.1 percent yearly increase in the previous three months. Capital spending is tipped to rise 0.9 percent on quarter after shrinking 0.5 percent in the three months prior.

Japan also will see April figures for current account and May data for bank lending. The current account is expected to show a surplus of 2.947 trillion yen, up from 2.278 trillion yen in March. Lending is expected to climb an annual 3.1 percent, easing from 3.2 percent in April.

New Zealand will provide Q1 data for manufacturing sales volume, with forecasts suggesting an increase of 3.9 percent following the 4.7 percent contraction in the previous quarter.

Australia will release April numbers for imports, exports and trade balance. In March, imports rose 2.0 percent on month and exports gained 4.0 percent for a trade surplus of A$15.269 billion.