World News

Taiwan Jan. export orders seen dropping due to holiday: Reuters poll

TAIPEI (Reuters) – Taiwan’s export orders in January are expected to drop due to the week-long Lunar New Year holidays, according to a Reuters poll, after a better-than-expected rebound in the prior month.

The median forecast from the poll of 15 economists was for export orders to contract 9% from last year. Forecasts widely ranged from a decline of 26.5% to a growth of 0.5%.

December orders rose for the first time in 14 months, boosted by a pick-up in global demand for electronics amid easing trade tensions between the United States and China.

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 Sherry Jacob-Phillips)