Gwangju, Production·Export·Employment 'Clear'... Consumption Activity 'Cloudy'

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] In the second quarter of this year, economic indicators such as production, export, and employment showed favorable trends in Gwangju Metropolitan City.

According to the "Honam Regional Economic Trends" announced by the Honam Regional Statistics Office on the 18th, the manufacturing production index recorded 105.6, up 29.4% compared to the same quarter last year, with increased production in electrical equipment (71%), automobiles (27%), and machinery equipment (22.9%).

The service industry production index rose 4% to 110.6, showing strong performance in sectors such as real estate and education.

Exports increased by a remarkable 49.3% to 4.07 billion dollars, driven by strong sales of passenger cars and refrigerators.

The employment rate rose by 0.1 percentage points to 58.7%, mainly among those aged 30 and above. The number of employed persons increased by 5,200 to 751,500, with growth in wholesale and retail, food and accommodation, and construction industries.

However, the construction sector faced downturns. Construction orders (current) fell 44.8% to 681.7 billion won, with decreases in both civil engineering and building construction.

Consumers also tightened their wallets. The retail sales index (constant) was 103, decreasing by 4.2% due to declines in supermarkets, general stores, and convenience stores, despite increases in department stores.

Meanwhile, manufacturing production in Jeonnam region increased by 9.1% and the service industry by 3.5% compared to the same quarter last year. Exports rose 84.4%, buoyed by steel plates and other products, and the employment rate increased by 1.3 percentage points, mainly among those aged 60 and above.

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