Japan Housing Starts Continues To Decline

Japan's housing starts declined for the eighth month in a row in February, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Monday.

Housing starts decreased 12.3 percent year-on-year in February, following a 10.1 percent fall in January. This was the eighth consecutive decrease in housing starts. Economists had forecast an annual 14.7 percent decline.

Annualized housing starts increased to 871,000 in February from 813,000 in the previous month. Economists had expected a rise of 826,000.

Data also showed that construction orders received by big 50 contractors rose 0.7 percent on year in February, after a 17.0 percent decrease in January

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