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POLL-Taiwan May export orders seen dropping for 7th straight month

Credit: REUTERS/TYRONE SIU

Taiwan's export orders likely declined for a seventh straight month in May, a Reuters poll showed, as a slowdown in global tech demand continued to hurt the export-reliant island's economy.

reuters://realtime/verb=Open/url=cpurl://apps.cp./Apps/econ-polls?RIC=TWEXOR%3DECI poll data

Orders median forecast -4.8% y/y (prior month -3.7%)

Data due Thursday, June 20, 4:00 p.m. (0800 GMT)

TAIPEI, June 17 (Reuters) - Taiwan's export orders likely declined for a seventh straight month in May, a Reuters poll showed, as a slowdown in global tech demand continued to hurt the export-reliant island's economy.

The median forecast from the poll of 12 economists was for May export orders to drop 4.8% from a year earlier. Forecasts ranged from a slight growth of 0.3% to a decline of 8.5%.

Orders in April dropped 3.7% from a year earlier due to slowing global tech demand. A Reuters poll had forecast a 5.9% fall, and March orders had dropped 9% from a year earlier.

Taiwan's export orders are a leading indicator of demand for Asia's exports and for hi-tech gadgets, and typically lead actual exports by two to three months.

(Poll compiled by Carol Lee; Reporting by Yimou Lee; Editing by Subhranshu Sahu)

((carol.lee@tr.com; +886-2-87295103;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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