TIER raises GDP forecast to 4 3% - Taipei Times taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
Public and private research institutes plan to raise their forecasts for the nation’s economic growth last year and this year after major economic bellwethers turned out stronger and continue to outperform, Taiwan Institute of Economic Research (TIER, 台灣經濟研究院) president Chang Chien-yi (張建一) said yesterday.
Chang shared his views on the nation’s economic outlook in a speech to the Third Wednesday Club (三三會), a local trade group that limits membership to the top 100 firms of each business sector.
The Directorate-General of Budget, Accounting and Statistics (DGBAS) is to release this month an advance report on the economy in the fourth quarter of
Taiwan’s capital market net profit hit a record high NT$646.3 billion (US$22.9 billion) from January through November, driven by the securities and insurance industries which gained from the domestic stock market rally.
That was up 4.07% from NT$621 billion in the same period of 2019, and 1.92% higher than the NT$634.1 billion net profit for all of 2019, the Financial Supervisory Commission (FSC) says in a statement on December 30.
The securities industry was the best performing sector, with net profit of NT$71.2 billion, up 38.83% from the first 11 months of 2019.
The insurance industry posted a net profit of NT$224 billion in January through November, a 21.8% increase from the same period of 2019. Life insurers led the gain with profits up 23.1% to a record high NT$208.1 billion. Profits of property insurance firms grew a more modest 3.9% to NT$15.9 billion.