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- Japan's housing starts fall sharply in November
Japan's housing starts fall sharply in November
Japan's Ministry of Land, Infrastructure, Transport and Tourism reported on Thursday that the country's housing starts recorded a double-digit decline in November.
According to the report, housing starts tumbled 12.7 percent on a yearly basis, following a 7.4 percent decline in October. That marked the fifth consecutive decrease in housing starts. Economists had forecast an 8.1 percent fall.
Annualized housing starts fell to 834,000 in November from 879,000 in October. Economists had expected 882,000.
Data also revealed that construction orders received by big 50 contractors reduced 1.2 percent on year in November, in contrast to an advance of 6.4 percent in October.
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