21 August 2012 08:15 [Source: ICIS news]
“Industrial production [in
DBS Group expects
“A weak output growth in July, if confirmed, will bode ill for the GDP outcome in the third quarter,” said DBS Group Research.
In the second quarter,
Its government has lowered its 2012 GDP growth estimate to 1.66% for the full year from a previous forecast of 2.08%.
Taiwan’s overall export orders fell by 4.39% year on year to $35.9bn (€29bn) in July, marking its fifth straight month of contraction, according to statistics released by Taiwan’s Ministry of Economic Affairs on Monday.
For chemicals, export orders fell by 18.9% year on year to $1.68bn for the period, representing a steeper decline than the 7.23% fall seen in June. Textile products, meanwhile, registered a 5.42% increase to $1.09bn for the same period.
Overall orders from China and the eurozone – the island’s biggest export markets – fell by 5.51% and 5.8%, respectively, in July, official data showed.
“This is in line with the weak performance in [the] global economy and in the electronics industry. July PMIs [Purchasing Managers’ Index] in
($1 = €0.81, $1 = NT$30)Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections
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