Japan Housing Starts Fall Less Than Expected In November

Japan's housing starts declined at a slower-than-expected pace in November, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Wednesday.

Housing starts fell 0.4 percent year-on-year in November, much slower than October's 4.8 percent decrease.

That was also below the 2.6 percent drop economists had forecast. Moreover, it was the fifth successive monthly fall.

Annualized housing starts climbed to 951,000 from 933,000 in the previous month. It was forecast to rise to 934,000.

Data also showed that construction orders received by big 50 contractors surged 20.5 percent yearly in November, following a 6.7 percent increase in October.

News are provided by InstaForex