- For poll data click:
- Orders median forecast +3.6% y/y (prior month +9.5%)
- Data due Monday, Aug 22, 4:00 p.m. (0800 GMT)
Taiwan’s export order possibly rose for a third straight month in July, but at less than half the pace of June as global demand dampens, a survey showed on Friday. The median forecast from a survey of 11 economists was for export orders to grow 3.6% from a year ago. Forecasts ranged for an increase of between 1.1% and 7.5%.
The island’s export orders, a leader of global technology demand, suddenly dropped for the first time in two years In April. Orders fell 5.5% from a year ago to $51.9 billion, taking a bigger-than- anticipated hit from a broader global supply china disruptions and COVID-19 lockdowns in China.
But they rebound in May and June. In June orders rose 9.5% from a year ago to $58.83 billion. The government has forecast last month’s orders to between o.4% and 3.1% more than a year earlier.
Taiwan’s export orders are a key indicator of demand for Asian exports and hi-tech gadget, and normally lead actual exports by two to three months.
The island’s manufacturers, including the world’s top contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), are a major part of the global supply chain for technology behemoths including Apple Inc (AAPL.O).
Last month’s data will be published on Monday.