Construction companies report domestic declineConstruction companies’ domestic orders have fallen for the second consecutive month, according to Construction Association of Korea.
In February, domestic construction orders fell 39 percent from a year earlier to 5.6 trillion won ($4.9 billion). Orders from the public sector were down 22.1 percent to 2.2 trillion won. Orders from the private sector saw a sharper drop of 45.6 percent on-year.
In contrast, government orders on building cultural and sport facilities increased 40 percent.
Construction orders in the first two months of the year shrunk more than 7 trillion won compared to a year earlier. The association cited the prolonged slump in the construction market as the main reason for the declining orders.
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