Japan Housing Starts Fall Sharply

Japan’s housing starts posted a sharper fall in February, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts fell 8.2 percent on a yearly basis in February, which was bigger than January’s 7.5 percent drop and economists’ forecast of 5.5 percent decrease. Housing starts have been falling since last June.

Annualized housing starts dropped to 795,000 in February from 802,000 a month ago.

Data showed that construction orders registered a double-digit annual decline of 11.0 percent, reversing a 9.1 percent rise in January.

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