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Financial News: Japan Housing Starts Growth Eases To 4-Month Low

Japan Housing Starts Growth Eases To 4-Month Low

01/31/2017 - 00:29:00 (RTTNews)

(RTTNews) - Japan's housing starts growth eased unexpectedly in December to its lowest level in four months, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Tuesday.

Housing starts climbed 3.9 percent year-over-year in December, much slower than the 6.7 percent spike in November. In contrast, economists had forecast the growth to improve to 8.3 percent.

It was the sixth successive monthly rise. However, the latest rate of growth was the weakest since August, when it had grown 2.5 percent.

Annualized housing starts declined to 923,000 in December from 953,000 in November. The expected figure for the month was 938,000.

For the whole year 2016, total housing starts expanded 6.4 percent as compared to a 1.9 percent increase in 2015

Construction orders received by 50 big contractors rebounded 7.1 percent annually in December, after a 6.0 percent decline a month ago.

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