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Financial News: Japan Housing Starts Fall For Ninth Month

Japan Housing Starts Fall For Ninth Month

04/30/2020 - 02:41:00 (RTTNews)

(RTTNews) - Japan's housing starts declined for the ninth month in a row in March, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Thursday.

Housing starts decreased 7.6 percent year-on-year in March, following a 12.3 percent fall in February. This was the ninth consecutive decrease in housing starts. Economists had forecast an annual 16.0 percent decline.

Annualized housing starts increased to 905,000 in March from 871,000 in the previous month.

Data also showed that construction orders received by big 50 contractors dropped 14.3 percent on year in March, after a 0.7 percent increase in February.

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