Gangwon-do's 'Gyeonggi Leading and Coincident Index' Rises for 3 Consecutive Months

Focus on Job Creation and Small Business Economic Recovery

File photo (Gangwon Sangsaenghyang Job Forum) [Provided by Gangwon Province]

[Asia Economy Reporter Ra Young-cheol] The coincident and leading composite indices of Gangwon Province have shown a continuous upward trend.

According to the Gangwon Economic Composite Index for May this year, announced by Gangwon Province on the 1st, the coincident composite index, which serves as a standard for judging the current economic situation, rose by 1.0% from the previous month to 106.8 points. The coincident index cyclical component also maintained its upward trend, increasing by 1.0 points from the previous month to 99.9 points.

The leading composite index and its cyclical component, which are used for short-term economic forecasts over the next 4 to 5 months, also rose by 2.7% and 2.8 points respectively from the previous month, reaching 123.8 points and 110.0 points, maintaining an upward trend alongside the coincident index.

In particular, the leading index recorded its highest value since the index compilation began in 2019, and both the coincident and leading indices showed growth rates higher than the national average.

Kim Tae-hoon, Director of the Economic Promotion Bureau of the province, stated, "We will focus on job creation and the recovery of small business conditions to revitalize the regional economy, while strengthening economic policies."

Meanwhile, the province announces the 'Gangwon Province Economic Composite Index' at the end of each month through the National Statistical Portal and Gangwon Statistical Information.

This content was produced with the assistance of AI translation services.