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Financial News: Japan Housing Starts Fall 1.4%

Japan Housing Starts Fall 1.4%

12/27/2022 - 04:03:00 (RTTNews)

(RTTNews) - Japan's housing starts decreased unexpectedly in November, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Tuesday.

Housing starts declined 1.4 percent year-on-year in November, following a 1.8 percent fall in October. Economists had forecast an annual growth of 1.5 percent.

Housing starts declined for the second straight month.

The seasonally adjusted annualized housing starts declined to 838,000 in November from 871,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors dropped 9.7 percent yearly in November, after a 7.9 percent growth in October. Orders declined for the first time in eight months.

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