Japan experienced a decline in housing starts for the seventh consecutive month in November, outpacing expectations, as reported by the Ministry of Land, Infrastructure, Transport, and Tourism on Friday.
In November, housing starts fell by 1.8% compared to the same period the previous year, a slower decline than the 2.9% decrease observed in October. Economists had anticipated a modest decrease of just 0.1%.
The data revealed that the reduction in housing starts could be attributed to contractions in the rented, issued, and built-for-sale segments, whereas growth was recorded in the owned category.
The seasonally adjusted annualized figure for housing starts decreased to 775,000 in November, down from 779,000 in October.
The material has been provided by InstaForex Company - www.instaforex.com
In November, housing starts fell by 1.8% compared to the same period the previous year, a slower decline than the 2.9% decrease observed in October. Economists had anticipated a modest decrease of just 0.1%.
The data revealed that the reduction in housing starts could be attributed to contractions in the rented, issued, and built-for-sale segments, whereas growth was recorded in the owned category.
The seasonally adjusted annualized figure for housing starts decreased to 775,000 in November, down from 779,000 in October.
The material has been provided by InstaForex Company - www.instaforex.com