Construction output in South Korea decreased 6.3 percent year-on-year in June 2019, following an upwardly revised 6.7 percent fall in the previous month. Building activity declined at a softer pace (-7.9 percent vs -9.3 percent in May), while civil engineering fell 1.9 percent after climbing 2.4 percent in the previous month. On a monthly basis, construction fell 0.4 percent (vs -0.9 percent). Construction Output in South Korea averaged 1.77 percent from 1998 until 2019, 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 -3.60 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 3.00 in 12 months time. In the long-term, the South Korea Construction Output is projected to trend around 4.50 percent in 2020, according to our econometric models.