Economic data due from Asia today – RBNZ up soon, China PMIs later


The Reserve Bank of New Zealand  kicks it all off today

Due at 2100GMT – RBNZ Financial Stability Report

  • Published every six months
  • The FSR assesses & reports on the soundness and efficiency of the New Zealand financial system
  • Media conference and appearance in parliament from governor Wheeler later (see below)

2300GMT – RBNZ governor Wheeler will conduct a press conference at 11am local time

2301GMT – UK data – GfK consumer confidence for May

  • expected -8, prior -7

Also at 2301GMT from the UK – BRC Shop Price Index for May

  • expected -0.3% y/y, prior -0.5%
  • This indicator has been showing persistent deflation

2350GMT – Japan – Industrial Production for April, preliminary reading

  • expected +4.2% m/m, prior -1.9%
  • expected +6.1% y/y, prior +3.5%
  • I’ll have a bit more to come ahead of this (on a separate post)

0100GMT – New Zealand – ANZ business confidence and activity outlook for May

  • priors 11.0 and 37.7 respectively
  • For the April results, ANZ said “business confidence is well off its peak, survey indicators are still pointing to solid growth” … and quite solid too, further from ANZ: “Our composite growth indicator is pointing to 3½-4% growth

0100GMT – China – Manufacturing and non-manufacturing PMIs for May

0100GMT – RBNZ governor Wheeler appears before a parliamentary committee

0130GMT – Australia – Private Sector Credit for April

  • expected +0.4% m/m, prior +0.3%
  • expected +4.9% y/y, prior +5.0%
  • Private credit growth slowed in Q1 of 2017, (0.3% per month on average)
  • Business credit fell -0.5% over Q1 (following a huge surge in Q4 of 2016 of +2.2% q/q) 
  • Eyes are on housing credit, which is expected to grow still, but then fall from May in response to bank’s setting out of cycle rate increases and also tighter lending conditions imposed by regulators

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