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Financial News: Japan Housing Starts, Consumer Confidence Increases

Japan Housing Starts, Consumer Confidence Increases

06/30/2021 - 04:19:00 (RTTNews)

(RTTNews) - Japan's housing starts increased in May and consumer confidence improved in May, data showed on Monday.

Housing starts increased 9.9 percent year-on-year in May, following a 7.1 percent rise in April, data from the Ministry of Land, Infrastructure, Transport and Tourism revealed.

Economists had forecast an annual 8.3 percent rise.

Annualized housing starts decreased to 875,000 in May from 883,000 in the previous month.

Data also showed that construction orders received by big 50 contractors grew 7.4 percent on year in May, following a 3.3 percent increase in April.

On a seasonally adjusted basis, the consumer confidence index increased to 37.4 in June from 34.1 in May, the Cabinet Office revealed.

All the four sub-indexes of the consumer confidence index, the index reflecting overall livelihood rose to 38.6 in June and income growth increased to 37.6.

Households' willingness to buy durable consumer goods increased 38.4 and the index for employment increased to 35.0.

The latest survey was conducted on June 15 covering 8,400 households.

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