(RTTNews) - Japan is scheduled to release a raft of data on Friday, setting the pace for a heavy day for Asian economic news. The Nomura/JMMA Manufacturing Purchasing Managers Index for August is due out 45 minutes ahead of the opening of the stock markets. July inflation follows 15 minutes later, along with household spending, jobless rate and retail sales. Then 10 minutes before the markets open, industrial production numbers for July are due, along with numbers for corporate loans and discounts. In the afternoon, July numbers for vehicle sales, housing starts and construction orders will be announced, as well as the August small business confidence score.

The Nomura/JMMI index posted a score of 47 in July. Tokyo inflation is expected to remain flat in August at 1.6 percent on year, while Tokyo CPI minus fresh food is called higher by 1.7 percent, up from 1.6 percent in the previous month. Minus food and energy, Tokyo inflation is expected to remain flat at an annual 0.3 percent. Nationwide inflation for July is predicted to increase 2.2 percent, up from the 2.0 percent annual increase in June. Minus food, CPI is called higher by 2.3 percent after a 1.9 percent annual gain in the previous month. Minus food and energy, inflation is expected flat at 0.1 percent.

Household spending for July is predicted to remain flat, declining by 1.8 percent on year. The jobless rate for July is expected to hold at 4.1 percent, while the job-to-applicant ratio is expected to decrease from .91 to 0.90. Retail sales are called higher by 1.3 percent on year in July, up from the 0.3 percent gain a month earlier. Seasonally adjusted sales are called higher by 0.1 percent after a flat reading in the previous month. Large retailer sales are expected to contract by 1.7 percent on year, improving on the 3.9 percent annual decline in June.

Industrial production is likely lower by 0.5 percent on month in July, following the 2.2 percent monthly decline in June. On an annual basis, industrial production is called higher by 0.6 percent after a flat reading in the previous month.

Corporate loans and discounts saw a 0.9 percent annual gain in June, while vehicle production posted a 4.5 percent increase on year a month earlier. Housing starts are expected to add 14.9 percent on year, up sharply from the 16.9 percent annual decline in the previous month. But the value of the starts is expected at 1.099 million yen, down from 1.13 million yen in June. Construction orders were down 11.7 percent in June, while small business confidence sat at 39.9 in July.

Malaysia will announce Q2 GDP data, with analysts expecting an annual increase of between 6 and 6.2 percent - down from the 7.1 percent increase on year in the previous quarter. Also, the Finance Ministry will table the government’s budget for 2009, and then the Federation of Malaysian Manufacturers will hold a press conference on the budget in Kuala Lumpur.

Due out from the Philippines are June numbers for bank lending, liquidity and money supply. Bank lending is expected to climb 17.1 percent on year, up from the 15.4 percent annual increase a month earlier. Liquidity came in at 3.7 percent in the previous month, while money supply posted a 9.6 percent annual increase a month earlier.

South Korea will announce July numbers for seasonally adjusted current account, industrial output, service industry output and leading index. Current account is expected to reflect a deficit of $2.1 billion after showing a surplus of $1.824 billion in June. Industrial output is projected to climb by 6.9 percent on year, up from the 6.7 percent annual expansion in the previous month. Seasonally adjusted output is called higher by 0.4 percent on year after a 0.2 percent annual gain a month earlier. Service industry output is expected to ease from 2.8 percent on year to 2.5 percent, while the leading index is projected to slow to 0.7 percent on year from 1.2 percent in the previous month.

Thailand is scheduled to release July data for trade balance, imports, exports, current account, manufacturing production and manufacturing index, as well as foreign reserves data through August 22. The trade balance is expected to show a deficit of $1.1889 billion after a surplus of $926 million in June. Imports are called higher by 54.2 percent on year, easing slightly from the 55.1 percent annual expansion in the previous month. Exports are expected to gain 43.5 percent on year after posting a 43.9 percent annual jump a month earlier. The current account is anticipated to show a deficit of $927 million after showing a surplus of $722 million in June. Manufacturing production is forecast to increase by 13.7 percent on year, up from the 11.2 percent annual gain in June. Foreign reserves showed an increase of 102.4 percent in the previous reporting period.

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