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 per cent from a year earlier. Forecasts ranged for a contraction of between 16.3 per cent and 30 per cent.
Taiwan’s export orders, a bellwether of global technology demand, fell by a worse-than-expected 23.4 per cent in November.
The government last month predicted December’s export orders would be between 27.8 per cent and 30.8 per cent 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, are a key part of the global supply chain for technology giants including Apple Inc.
