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Financial News: Japan Housing Starts Decline For Sixth Month

Japan Housing Starts Decline For Sixth Month

01/31/2020 - 02:05:00 (RTTNews)

(RTTNews) - Japan's housing starts declined for the sixth consecutive month in December, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts decreased 7.9 percent year-on-year in December, following a 12.7 percent drop in November. This was the sixth consecutive decrease in housing starts. Economists had forecast an annual 11.1 percent fall.

Annualized housing starts decreased to 852,000 in December from 848,000 in November. Economists had expected it to remain at 848,000.

Data also showed that construction orders received by big 50 contractors surged 21.4 percent on year in December, after a 1.2 percent fall in November. This was the biggest growth in five months.

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