Regional service industry production deteriorated due to the spread of Omicron
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(Seoul = Yonhap News) Reporter Kim Yu-ah = Jeonse prices for housing in the metropolitan area in the first quarter of this year turned to a downward trend for the first time in two years and six months.
The regional economy showed a similar level to the previous quarter due to the rapid spread of Omicron despite the strong export since last year.
In the regional economic report published on the 28th, the Bank of Korea announced that 15 regional headquarters surveyed businesses and related organizations for trends in January and February and found this result.
First, during this period, the average monthly jeonse price increase rate in the metropolitan areas such as Seoul, Gyeonggi and Incheon recorded -0.03% compared to December last year.
This is the first decline in 10 quarters (2 years and 6 months) since the 3rd quarter of 2019 (-0.01%).
[한은 제공. 재판매 및 DB 금지]
The BOK explained, “This is mainly due to the easing of the shortage of properties.” During this period, the monthly average of 91.7, below 100, showed that the supply and demand for jeonse apartments in the metropolitan area exceeded supply.
The rate of increase in housing sales prices in the metropolitan area was only 0.01%, significantly lower than in the fourth quarter of last year (0.74%). This is attributable to the weakening of housing buying sentiment due to the recent rise in interest rates.
In other regions, the increase in house prices and jeonse prices also slowed down.
In all five districts, including Southeast, Chungcheong, Honam, Gangwon, and Jeju, housing sales and jeonse prices still showed an upward trend, but the extent of the increase decreased.
In the case of Daegu and Gyeongsangbuk-do, both house prices and jeonse price growth rates turned downward. They were calculated to be -0.005% and -0.03%, respectively. The BOK explains that this is due to the continued supply and an increase in unsold housing units.
[한은 제공. 재판매 및 DB 금지]
Most of the matches by region were similar to the fourth quarter of last year. The metropolitan area and six areas including Gangwon, Chungcheong, Daegyeong, Dongnam, and Jeju remained flat, while the Honam area showed a slight deterioration.
Exports increased in all regions.
Manufacturing production increased in the Southeast, Chungcheong, Gangwon, and Jeju regions, while the capital region and Honam region remained flat, while the Daegyeong region declined.
Service industry production showed a slight decline in the metropolitan area, southeast area, Chungcheong area, and Honam area, and fell overall.
The BOK said, “The rapid spread of Omicron, a virus mutated by COVID-19, has led to a drop in service industry production.
However, in the case of exports, which have driven the regional economy, the increase is expected to decrease slightly in the future due to geopolitical risks such as the Ukraine crisis.
Monthly average consumer price inflation rose in all regions. The inflation rate of the Jeju region was 4.5%, the highest among the seven regions.
kua@yna.co.kr
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2022/03/28 14:41 Send
