Feed: Business Yahoo UK
Posted on: Monday, April 29, 2013 12:20
Author: Business Yahoo UK
Subject: Taiwan Q1 growth seen slowing on soft China, U.S. demand
Taiwan's economic growth has likely eased to 3 percent in the first quarter on soft demand from China, the U.S. and other major markets, pointing to a slow recovery for the global economy. The export-driven economy was expected to grow 3 percent in the first quarter from a year earlier, versus a 3.72 percent growth in the prior three months, according to the median forecast of the 11 analysts surveyed by Reuters. "The economy has lost momentum in Q1 from Q4," said analyst Kevin Wang of Taishin Securities. "Although momentum will pick up in the second half of 2013, how strong that will be depends on the strength of the U.S. and China economies." The economic recovery of mainland China, Taiwan's biggest export destination, unexpectedly stumbled in the first quarter as the annual rate of growth eased back to 7.7 percent from the 7. Orders for Taiwan's exports unexpectedly contracted 6. Taiwan's export orders are a leading indicator of demand for Asia's exports and for hi-tech gadgets Such as smartphones, and typically lead actual exports by two to three months. |
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