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TAIPEI – Taiwan’s export orders likely declined for a ninth straight month in July, a Reuters poll showed, as the island’s manufacturers continued to feel the heat from slowing electronic demand amid the U.S.-China trade war.
The median forecast from the poll of 11 economists was for July export orders to drop 5.9% from a year earlier. Forecasts ranged from a decline of 2.3% to 8%.
Orders in June dropped 4.5% from a year earlier, more than expected, with global companies increasingly hesitant to make new investments in machinery as the trade war wears on.
Taiwan’s export orders are a leading indicator of demand for Asia’s exports and hi-tech gadgets, and typically lead actual exports by two to three months.
(Poll compiled by Carol Lee; Reporting by Yimou Lee; editing by Gopakumar Warrier)