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Taiwan December exports growth seen picking up, inflation eases
Taiwan's exports in December are expected to have posted their fastest growth in three months, a Reuters poll of analysts showed, but the momentum may not sustain as demand in the United States and European markets softens.
Taiwan's exports, the bellwether of Asia's technology shipments, likely grew 4.95 percent in December from a year earlier, up from 0.9 percent growth in November, according to the median forecast of 10 analysts surveyed. Exports dipped 1.9 percent in October but jumped 10.4 percent in September.
Strong growth was attributed to year-end demand for gadgets of Apple Inc and other clients in China and the United States. However, there are doubts about the longer-term outlook.
"The sustainability of any uplift remains questionable, given still significant headwinds facing U.S. and European final demand," said Donna Kwok, an HSBC economist.
Forward indicators pointed to growth in December exports.
Orders for Taiwan's exports in November grew a much stronger-than-expected 11.1 percent from a year earlier, sparking some optimism that a long bad patch for exporters was ending.
The latest Taiwan PMI reading improved to an eight-month high in December, and signaled an expansion of output for the first time in seven months, reflecting an improving economy. (Reuters)