Taiwan Sept export growth seen cooling further: Reuters Poll

TAIPEI (Reuters) – Taiwan’s exports likely rose for the 27th straight month in September though at a slower pace than in August, amid fears of a global recession, uncertainties due to the Ukraine conflict, and COVID-19 flare-ups in China, according to a Reuters poll.

Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:), is one of Asia’s leading exporters of technology goods. The trade data is seen as an important gauge of world demand for tech gadgets.

Exports last month were estimated to have risen 1.5% from a year earlier, a Reuters poll of 19 analysts showed on Wednesday, slightly slower than the 2% rise in August.

The export forecasts varied widely between a contraction of 5.83% and expansion of 5.1%, reflecting uncertainties over the global economy, supply chain disruptions due to pandemic lockdowns and power shortages in China, and Russia’s invasion of Ukraine.

Taiwan’s Finance Ministry has predicted September exports could be in a range of a 3% contraction to a 1% expansion from a year earlier.

Separately, the consumer price index was expected to have risen 2.7% in September from a year earlier, a faster rate than 2.66% in August.

The inflation data will be released on Thursday, followed by trade data on Friday.

(Poll compiled by Arsh Mogre and Carol Lee; Reporting by Ben Blanchard; Editing by Kim Coghill)

[ad_2]

Source link