Financial News: Japan Housing Starts Rise Most Since October 2021

Japan Housing Starts Rise Most Since October 2021

02/28/2023 - 01:59:00 (RTTNews)

(RTTNews) - Japan's housing starts recovered strongly in January and at the fastest pace in more than a year, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Tuesday.

Housing starts climbed 6.6 percent year-on-year in January, reversing a 1.7 percent fall in December. That was well above the 1.1 percent increase economists had expected. It was the first gain in four months.

Further, this was the fastest rate of growth since October 2021, when housing starts had risen 10.4 percent.

The solid rebound in January was driven by a 4.8 percent recovery in new construction of two-by-four and a 25.0 percent jump in that of built-for-sale.

The seasonally adjusted annualized housing starts rose to 893,000 in January from 846,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors plunged 14.0 percent yearly in January, after an 8.5 percent rebound in December.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

UK House Prices Rise In March: Rightmove (15 min(s), 41 sec(s) ago)
(RTTNews) - After flattening in February, UK house prices increased in March due to a jump in the ...Full Story»

Eurozone Trade Gap Narrows In January (56 min(s), 41 sec(s) ago)
(RTTNews) - Euro area trade deficit narrowed at the start of the year as the pace of fall in impor ...Full Story»

Poland Industrial Output Contracts; Producer Price Inflation At 1-Year Low (01 hr(s), 30 min(s), 41 sec(s) ago)
(RTTNews) - Poland's industrial production declined for the first time in thirty-three months ...Full Story»

Taiwan Export Orders Continue To Fall In February (02 hr(s), 54 min(s), 41 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (04 hr(s), 51 min(s), 41 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (06 hr(s), 18 min(s), 41 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»

European Economic News Preview: Eurozone Foreign Trade Data Due (06 hr(s), 58 min(s), 41 sec(s) ago)
(RTTNews) - Foreign trade from the euro area and producer prices from Germany are the top economic ...Full Story»

China Retains Benchmark Lending Rates As Expected (07 hr(s), 17 min(s), 41 sec(s) ago)
(RTTNews) - China retained its benchmark lending rates for the seventh straight month on Monday af ...Full Story»