Taiwan Sees Surprise Export Order Fall on Weak China Demand

Taiwan’s export orders unexpectedly contracted in July as demand from Chinese customers plunged, and officials are now warning of further declines to come.

Orders slumped 1.9% in July compared to the same month last year, according to a Monday statement from Taiwan’s Ministry of Economic Affairs. That was worse than even the most bearish forecast in a Bloomberg survey of economists. The median estimate was for a 6.2% increase.