Japanese Housing Starts Fall For Seventh Month

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

Housing starts decreased 10.1 percent year-on-year in January, following a 7.9 percent fall in December. This was the seventh consecutive decrease in housing starts. Economists had forecast an annual 5.3 percent decline.

Data also showed that construction orders received by big 50 contractors dropped 17.0 percent on year in January, after a 18.0 percent rise in December.

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