Halister News

(Bloomberg) -- Contraction in Taiwan’s March export orders may imply another month of negative growth in industrial production, according to economists’ predictions.

• Output probably fell 5.50% following a 3.65% decline in Feb., according to median est. of 16 economists in Bloomberg survey
  • Ests. range from -7.00% to -2.20%; data due 4pm on April 22
• Data released yesterday showed export orders fell 4.7% y/y in March, a smaller decline than the -8.0% expected in Bloomberg survey
• USD/TWD fell 0.1% yesterday to close at 32.248; now up 0.1% at 32.280
• Taiwan cut its benchmark rate for a third consecutive quarter to 1.50% on March 24, as an export slump showed no signs of recovering; analysts expect another 12 bps cut in discount rate to 1.38% in 2Q, according to median est. in latest Bloomberg survey