TAIPEI (Reuters) – Orders for Taiwan’s exports likely contracted for a fifth month in January and at a faster clip than the prior month, a Reuters poll showed on Friday, as global demand for the island’s technology-related goods continues to slow.
The median forecast from a poll of 11 economists was for export orders to fall by 25.0% from a year earlier. Forecasts ranged for a contraction of between 17% and 31.8%.
Taiwan’s export orders, a bellwether of global technology demand, fell 23.2% in December.
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.
The data for January will be released on Monday.
(Compiled by Devayani Sathyan and Carol Lee; Reporting by Faith Hung; Editing by Ben Blanchard and Uttaresh.V)
