Taiwan export order growth likely declined in February

Taiwan is scheduled to release February export order data on 20 March. 

Standard Chartered notes its expectations as follows....

• We expect overseas orders to have dropped by 3.0% y/y versus 8.1% y/y growth in January, owing mainly to a high base and slow sales following the Lunar New Year holiday. 
  
  
• However, Taiwan's launch of the latest wearable technology likely continued to support overseas tech orders. 
  
  
• We expect export orders for chemicals and chemical materials to have contracted further, affected by soft global oil prices. 
  
  
• However, export orders likely recorded a gain in January-February, which we believe will boost producers' confidence, and capex and hiring in the local manufacturing sector.