Construction output in South Korea plummeted 9.5 percent in December 2018, following a downwardly revised 10.4 percent fall in the previous month. It was the eleventh straight decline in construction output, as building activity kept falling at double-digit rates (-10.1 percent compared to -11.7 percent in November) and civil engineering works fell further (-8.2 percent compared to -6.2 percent). Construction Output in South Korea averaged 1.94 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 -0.10 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 8.70 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.