Taiwan’s export orders in October likely contracted again, but at a slower pace: Reuters poll

Taiwan’s export orders in October likely contracted again, but at a slower pace: Reuters poll
Taiwan’s export orders in October likely contracted again, but at a slower pace: Reuters poll
  • For survey data, click:
  • Median order forecast -1% y/y (prior month -3.1%)
  • Data due Monday, November 21 at 4:00 p.m. (08:00 GMT)

TAIPEI, Nov 18 (Reuters) – Taiwan’s export orders likely contracted again in October as global demand for technology cooled, but at a slower pace than the previous month, a Reuters poll showed on Friday. .

The median forecast from a poll of 13 economists was that export orders would fall 1% from a year earlier. Forecasts ranged from a 1.9% expansion to a 5.4% contraction.

The island’s export orders, an indicator of global tech demand, fell 3.1% in September, starting from a high base and buoyed by strong sales of new consumer electronics like iPhones .

The government predicted last month’s export orders would be 1% to 3.6% lower than October 2021.

Taiwan’s export orders are a leading indicator of demand for high-tech gadgets and Asian exports, and typically exceed actual exports by two to three months.

Manufacturers on the island, including the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (2330.TW), are a key part of the global supply chain for tech giants including Apple Inc (AAPL.O).

October data will be released on Monday.

Survey compiled by Anant Chandak and Carol Lee; Reporting by Ben Blanchard; Editing by Rashmi Aich

Our standards: The Thomson Reuters Trust Principles.

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. orders export taiwan october is probably new contracted but pace slow poll Reuters

. Taiwans export orders October contracted slower pace Reuters poll

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