'Taiwan export orders seen shrinking at faster pace in Dec'
Business
'Taiwan export orders seen shrinking at faster pace in Dec'
TAIPEI (Reuters) - Taiwan s export orders likely contracted again in December and at a faster clip than the previous month, a Reuters poll showed on Monday, as global demand for the island s technology-related goods continues to cool.
The median forecast from a poll of 13 economists was for export orders to fall by 25.6% from a year earlier. Forecasts ranged for a contraction of between 16.3% and 30%.
Taiwan s export orders, a bellwether of global technology demand, fell by a worse-than-expected 23.4% in November.
The government last month predicted December s export orders would be between 27.8% and 30.8% lower than those reported a year earlier.
Taiwan s export orders are a leading indicator of demand for high-tech gadgets and Asian exports, and typically lead actual exports by two to three months.
The island s manufacturers, including the world s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), , are a key part of the global supply chain for technology giants including Apple Inc (AAPL.O).The data for December will be released on Tuesday.
