July 19, 2019 / 2:40 AM / 4 months ago

Taiwan June export orders seen dropping for eighth straight month: Reuters poll

FILE PHOTO: A man rides a motorbike near Kaohsiung Port, Taiwan August 7, 2017. REUTERS/Tyrone Siu/File Photo

TAIPEI (Reuters) - Taiwan’s export orders likely declined for an eighth straight month in June, a Reuters poll showed, as soft global electronic demand continued to hurt the export-reliant island’s economy.

The median forecast from the poll of 10 economists was for June export orders to drop 0.83% from a year earlier. Forecasts ranged from a growth of 2% to a decline of 5%.

Orders in May dropped 5.8% from a year earlier, more than expected, and April orders fell 3.7% on-year.

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

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