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Financial News: Japan Housing Starts Decline Sharply In November

Japan Housing Starts Decline Sharply In November

12/26/2019 - 00:27:00 (RTTNews)

(RTTNews) - Japan's housing starts logged a double-digit decline in November, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Thursday.

Housing starts decreased 12.7 percent on a yearly basis, following a 7.4 percent drop in October. This was the fifth consecutive decrease in housing starts. Economists had forecast an 8.1 percent fall.

Annualized housing starts decreased to 834,000 in November from 879,000 in October. The expected level was 882,000.

Data also showed that construction orders received by big 50 contractors declined 1.2 percent on year in November, in contrast to an increase of 6.4 percent in October.

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