POSITIVE SIGN: Asia’s exports have been declining since November last year, but a recent rebound in the SOX index indicates that the worst is likely over, the bank said
Date: Apr 22, 2019
By: Crystal Hsu / Staff reporter
The contraction in Taiwan’s export orders could have narrowed to 5 percent last month from a year earlier, compared with a 10.9 percent decline in February, as Asia’s growth slowdown might be close to a trough, Australia and New Zealand Banking Group Ltd (ANZ) said on Friday.
Export orders — a critical gauge of how actual exports are likely to perform in one to three months — had slipped into negative territory for four straight months, as companies adjusted their inventory during the slow sales season.
The Ministry of Economic Affairs is to release its export order data today.
“A key leading indicator for the global technology cycle is pointing toward a rebound, which would bode well for Asia’s exports,” ANZ said in a note, referring to the region’s purchasing managers’ index (PMI). [FULL STORY]