August Gwangju Region Production and Consumption Up, Investment Down

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] In August, production and consumption increased in the Gwangju area, while investment decreased.

The Honam Regional Statistics Office announced the 'Gwangju Metropolitan City Industrial Activity Trends' on the 30th.

According to this data, the manufacturing production index was 89.7, up 2.9% compared to the same month last year.

The seasonally adjusted production index was 99.1, an increase of 5.5% compared to the previous month, showing an upward trend for four consecutive months since April (105.9).

By detailed industry, ▲primary metals such as aluminum plates increased by 66.9%, ▲mechanical equipment such as system air conditioners by 26.5%, and ▲automobiles by 4.0% compared to last year.

On the other hand, tobacco (-48.0%), electronic components (-7.0%), and electrical equipment (-5.0%) showed sluggish performance.

The large retail store sales index, a consumption indicator, was 89.6, up 3.9%.

Among these, department store sales increased by 13.1%, while large discount store sales decreased by 4.5%.

Last year, the large retail store sales index decreased by 5.8% compared to 2019, so the recovery appears more significant due to the base effect.

It is also characterized by poor performance because sales are centered on summer clothing, which is relatively cheaper than winter outerwear.

However, the construction orders, an investment indicator, amounted to 266.5 billion KRW, down 18.0%.

Contract amounts by client fell by 85.4% in the public sector and 23.7% in the private sector.

By construction type, the building sector declined by 9.3% due to fewer offices and stores, and the civil engineering sector fell by 94.7% due to decreases in railroads and land development.

The domestic construction orders of major nationwide general construction companies totaled 14.4117 trillion KRW, with the Gwangju area accounting for only 1.8% of this.

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