Construction output in South Korea plunged 16.6 percent year-on-year in September 2018, following a downwardly revised 5.4 percent decline in the previous month. It was the eight straight decline in construction output, as building activity declined further (14.0 percent compared to 6.4 percent in August). Meantime, civil engineering works fell a sharp 24.2 percent, after shrinking 2.0 percent in the prior month. Construction Output in South Korea averaged 2.06 percent from 1998 until 2018, reaching an all time high of 25.70 percent in September of 2001 and a record low of -30.50 percent in August of 1998.
Construction Output in South Korea is expected to be 13.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in South Korea to stand at 0.50 in 12 months time. In the long-term, the South Korea Construction Output is projected to trend around 5.90 percent in 2020, according to our econometric models.