Taiwan's export orders fell in November at the slowest pace in seven months, a sign overseas sales at chipmakers, mobile-phone makers and other manufacturers may be nearing the end of a nine-month slide.
Export orders fell 11.15 percent from a year earlier to US$11.79 billion after a 12.3 percent decline in October, the Ministry of Economic Affairs said. In addition, factory production fell 6.77 percent, the ministry added.
Chipmakers are counting on a rebound in US orders early next year to boost prices and restore profit after the global chip industry had its worst year on record this year. While the worst of the slump may be over, most analysts don't expect a quick recovery.
The economy will probably contract 2.2 percent this year, the second-worst performance in Asia after Singapore, the International Monetary Fund said earlier this week.
Orders for semiconductors, notebook computers and other electronics fell 31.4 percent from a year earlier to US$2.2 billion, after falling by about the same amount in October, yesterday's report showed.
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