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Financial News: Japan Housing Starts Rise Unexpectedly In June

Japan Housing Starts Rise Unexpectedly In June

07/31/2019 - 02:47:00 (RTTNews)

(RTTNews) - Japan's housing starts rose for the first time in three months in June, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Wednesday.

Housing starts increased unexpectedly 0.3 percent year-on-year in June, after an 8.7 percent decline in May. Economists had forecast the housing starts to fall 2.2 percent.

Annualized housing starts grew to 922,000 in June from 900,000 in the previous month. The expected level was 900,000. In the same period last year, housing starts totaled 919,000.

Data also showed that construction orders received by big 50 contractors declined 4.2 percent year-on-year in June, following a 16.9 percent decrease in May.

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