India's Finance Minister Nirmala Sitharaman is set to present the nation’s budget for the upcoming financial year beginning in April. This announcement, scheduled for Saturday, will outline India’s fiscal strategies amidst a backdrop of global economic uncertainties. Meanwhile, in China, the statistics bureau is preparing to release an essential factory activity gauge for January, providing insight into the country's manufacturing trends.
The Lunar New Year holidays officially commence in China, with millions expected to travel despite the lingering effects of the country's property crisis and deflationary pressures that have dampened domestic demand. China's manufacturing activity saw expansion for the third consecutive month in December, although the growth was marginal. Additionally, China has adjusted its 2024 GDP growth target downwards to a range of 6-6.5%, a decrease from the previously projected 7%.
The Philippines is poised to publish its quarterly GDP growth figures, offering a glimpse into the nation’s economic performance. The country has faced a challenging year marked by natural disasters and global economic uncertainties. Alongside the quarterly figures, annual economic growth data will also be released, providing a comprehensive overview of the Philippines' economic resilience and prospects.
Myanmar marks a somber milestone, as it observes four years since the military regime seized power and detained numerous leaders of the civilian government. The ongoing civil war continues to impact the nation, highlighting the persistent challenges faced by its citizens.
In the automotive sector, Mitsubishi Motors is on the verge of deciding whether to participate in a proposed merger with Nissan Motor and Honda Motor. This potential consolidation could significantly impact the global automotive landscape, influencing market dynamics and competitive strategies.
As China's Lunar New Year festivities get underway, many regional financial markets have shuttered in observance of this annual celebration and other public holidays. The holiday season is expected to see significant domestic travel, despite existing economic challenges.
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