Taiwan August export orders likely contract as demand eases – Reuters poll
TAIPEI (Reuters) – Taiwan’s export orders probably contracted for a second straight month in August, and at an identical tempo from the earlier month as world demand cools, a Reuters ballot confirmed on Monday.
The median forecast from a ballot of 13 economists was for export orders to fall 2% from a 12 months earlier. Forecasts ranged from an growth of three.4% to a contraction of three.7%.
The island’s export orders, a bellwether of worldwide know-how demand, unexpectedly fell in July. Orders shrank 1.9% to $54.26 billion from a year-ago interval, taking a larger-than-expected hit from weakening demand for know-how and continued financial troubles in its largest market China.
The federal government has predicted final month’s orders to be between 0.9% and three.7% decrease than these of August 2021.
Taiwan’s export orders are a number one indicator of demand for hi-tech devices and Asian exports, and usually lead precise exports by two to 3 months.
The island’s producers, together with the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd, are a key a part of the worldwide provide chain for know-how giants together with Apple Inc.
The info for August can be launched on Tuesday.
(Ballot compiled by Anant Chandak, Devayani Sathyan and Carol Lee; Reporting by Ben Blanchard; Enhancing by Sherry Jacob-Phillips)
