Slight Rebound in December Manufacturing Sentiment in Gwangju and Jeonnam

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The manufacturing industry in the Gwangju and Jeonnam regions has shown a slight rebound.

On the 29th, the Gwangju-Jeonnam branch of the Bank of Korea announced that the December Gwangju-Jeonnam Manufacturing Business Survey Index (BSI) stood at 78, up 2 points compared to the previous month.

The BSI for next month's business outlook also rose 2 points to 76 compared to the previous month.

The Business Survey Index (BSI) is calculated by subtracting the percentage of companies responding negatively about the business condition from the percentage responding positively, then adding 100. A value above the baseline (100) indicates that the number of positive responses exceeds negative ones, and below indicates the opposite.

By category, the manufacturing sales BSI and next month's sales outlook BSI both rose 7 points to 99 compared to the previous month.

The manufacturing new orders BSI and outlook BSI also increased by 4 points and 2 points respectively to 95 compared to the previous month.

The main management difficulties in manufacturing were rising raw material prices (30.9%), uncertain economic conditions (17.7%), labor shortages and rising labor costs (14.3%), and sluggish domestic demand (11.3%), in that order.

The non-manufacturing business condition BSI fell 3 points to 76 compared to the previous month, and the next month's business outlook BSI dropped 7 points to 77.

The survey was conducted from the 7th to the 22nd of this month targeting 518 businesses with five or more employees in the region.

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