{"id":23812,"date":"2023-04-26T04:54:15","date_gmt":"2023-04-26T04:54:15","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/taiwan-seen-slipping-into\/"},"modified":"2023-04-26T04:58:48","modified_gmt":"2023-04-26T04:58:48","slug":"taiwan-seen-slipping-into","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/taiwan-seen-slipping-into\/","title":{"rendered":"Taiwan seen slipping into recession in Q1- Reuters poll"},"content":{"rendered":"

TAIPEI (Reuters) – Taiwan’s export-dependent economy likely slipped into a recession in the first quarter, a Reuters poll showed on Wednesday, weighed down by sluggish demand for technology products amid global economic woes.<\/p>\n

Gross domestic product (GDP) likely fell 1.25% in the January-March period versus a year earlier, the poll of 24 economists showed. The GDP had contracted 0.41% year-on-year in the fourth quarter.<\/p>\n

The economists’ forecasts for preliminary GDP data due on Friday varied widely from a contraction of 2.9% to growth of<\/p>\n

0.2%.<\/p>\n

Exports slid annually for a seventh consecutive month in March, with a prognosis from the government that the downturn may continue until at least the fourth quarter.<\/p>\n

“Semiconductor exports are facing a severe downturn due to the ending of the pandemic-related demand, a rise in interest rates, and escalation of U.S.-China tech tensions,” according to a DBS research report.<\/p>\n

The government has said it expects full-year 2023 growth of 2.12%, its slowest pace in nearly eight years and lower than the 2.45% growth for 2022. <\/p>\n

Taiwan is a key hub in the global technology supply chain for giants such as Apple Inc, and home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Co Ltd (TSMC).<\/p>\n

Taiwan’s preliminary figures will be released in a statement with minimal commentary. Revised figures will be released a few weeks later, with more details and forward-looking forecasts. <\/p>\n

\n

(Poll compiled by Anant Chandak, Madhumita Gokhale and Carol Lee; Reporting by Faith Hung; Editing by Ben Blanchard and Uttaresh Venkateshwaran)<\/p>\n

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\"tagreuters.com2023binary_LYNXMPEJ3P04R-VIEWIMAGE\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

TAIPEI (Reuters) – Taiwan’s export-dependent economy likely slipped into a recession in the first quarter, a Reuters poll showed on Wednesday, weighed down by sluggish demand for technology products amid global economic woes. Gross domestic product (GDP) likely fell 1.25% in the January-March period versus a year earlier, the poll of 24 economists showed. The […]<\/p>\n","protected":false},"author":8,"featured_media":23813,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-23812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3P04T-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=23812"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23812\/revisions"}],"predecessor-version":[{"id":23836,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/23812\/revisions\/23836"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/23813"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=23812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=23812"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=23812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}