Ulsan, South Korea – Ulsan’s manufacturing sector continued its upward trajectory in November, marking eight consecutive months of growth, according to the latest data released by the Southeast Regional Statistics Office. However, consumer spending experienced a third consecutive monthly decline.

The city’s industrial production index rose 3.0% year-on-year in November, driven primarily by increases in the production of other transportation equipment (up 28.1%) and chemical products (up 9.8%). Conversely, production in the automotive (-8.8%) and petroleum refining (-3.1%) sectors contracted.

Despite the overall increase in production, shipments declined by 0.9% year-on-year, primarily due to decreases in automotive and petroleum refining shipments. Inventories also decreased by 1.4% year-on-year.

In contrast to the robust manufacturing sector, consumer spending in Ulsan continued to weaken. Retail sales, as measured by the large-scale retail sales index, fell by 4.5% year-on-year in November. Department store sales declined by 7.6%, while large-scale supermarket sales decreased by 1.4%.

Meanwhile, the construction sector exhibited significant growth. The city’s construction orders surged 549.1% year-on-year to 475.3 billion won in November. This increase was driven by both public and private sector projects, with public sector orders jumping 1,660.1% and private sector orders rising 132.0%.

[ⓒ Global Economic Times. 무단전재-재배포 금지]