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Financial News: Japan Housing Starts Fall 4.0%, Less Than Expected

Japan Housing Starts Fall 4.0%, Less Than Expected

01/31/2024 - 01:26:00 (RTTNews)

(RTTNews) - Japan's housing starts decreased for the seventh straight month in December, though at a slower-than-expected pace, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Wednesday.

Housing starts dropped 4.0 percent year-on-year in December, following an 8.5 percent decline in November. Economists had expected a decrease of 6.2 percent.

Data showed that new construction was contracted in the majority of categories, except built for scale.

The seasonally adjusted annualised number of housing starts rose to 814,000 in December from 789,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors increased 0.4 percent annually in December, after a 33.6 percent surge in the prior month.

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