Asia week ahead: inflation and trade data out of India and China

The Asia data release calendar is heavy on trade reports with China, India and Taiwan all reporting their latest figures. Slowing global demand and potential supply chain bottlenecks due to Covid-related movement restrictions may surface in the April numbers.

The coming week also features inflation readings from India and China. Inflation could pick up for both India and China although price conditions for these two countries vary significantly. Accelerating inflation in India, which is expected to hit 7.3%, has already induced a rate increase from the central bank, while relatively subdued inflation in China persists given recent lockdowns.

Lastly, the region reports first quarter GDP readings from Indonesia and the Philippines. After dealing with respective Covid-induced lockdowns early in the quarter, both economies managed to reopen quickly and post respectable growth for the quarter. Indonesia likely grew 5.1% while the Philippine economy expanded by 6.1%, boosted by election-related spending.