| Title |
Usefulness Assessment of Construction Business Indicators |
| Authors |
Moon Hyuk ; Kim Jae-Jun ; Kim Yong-Hwan |
| Keywords |
Construction Economy ; Construction Business Cycle Forecasting ; Construction Statistics ; Business Indicator |
| Abstract |
Recently, the construction business cycle in Korea has been depicted as a different pattern from the national economy business cycle showing very unstable aspect in its frequency. This circumstance makes not only the analysts difficult in forecasting the future construction business cycle but also the decision makers difficult in their decision making. To forecast the future construction market aspect, we usually depend on the business cycle indicators from construction industry itself and other subsidiary industries in conjunction with national economy indicators. However, those indicators have very low objectivity due to rare and limited evaluation of their statistical characteristics and accuracy. So that the indicator readers are having difficulties in forecasting the future market aspect precisely. Therefore, the purpose of this research is to suggest the evaluated standards in terms of their characteristics and accuracy in forecasting usefulness of the construction business indicators. To provide an objective assessment, qualitative analysis and quantitative analysis have been applied. The results of usefulness assessment of construction business indicators will give a new standard in reading indicators for their forecasting use. |