TAIPEI (Reuters) - Taiwan’s economic growth probably cooled slightly in the second quarter given some softening in global demand for exports amid trade tensions between the United States and China.
The median forecast in a Reuters poll of 15 economists was for second quarter gross domestic product to expand 3.00 percent from a year earlier. Taiwan reported 3.04 percent annual growth for the first quarter.
The preliminary figures will be released along with a brief statement. Revised figures will be released about two to three weeks later, with details and forecasts.
Some economists said the underwhelming recent economic indicators such as industrial production could suggest that manufacturers are cautious about maintaining inventory during a possible trade war.
Iris Pang, Greater China economist at ING, said in a research note she had cut its full-year growth forecast for Taiwan to 2.4 percent, from 2.6 percent.
“While Taiwan could win some orders from the substitution of Mainland products (for example, electrical machinery), manufacturers could be hit by a fall in global demand if the trade war intensifies,” Pang added.
Poll compiled by Carol Lee; Writing by Jess Macy Yu; Editing by Richard Borsuk