Japan Housing Starts, Consumer Confidence Falls

Japan’s housing starts declined further in July and consumer confidence fell marginally in August, data showed on Monday.

Housing starts decreased 11.4 percent year-on-year in July, following a 12.8 percent fall in June, data from the Ministry of Land, Infrastructure, Transport and Tourism revealed.

Economists had forecast an annual 12.5 percent decline.

Annualized housing starts increased to 828,000 in July from 790,000 in the previous month.

Data also showed that construction orders received by big 50 contractors fell 22.9 percent on year in July, following a 13.4 percent decrease in June.

On a seasonally adjusted basis, the consumer confidence index increased to 29.3 in August from 29.5 in July, the Cabinet Office revealed.

Three of four sub-indexes of the consumer confidence index decreased, the index reflecting overall livelihood fell to 31.4 in August. Income growth declined to 32.7 and employment decreased to 21.2.

Meanwhile, households’ willingness to buy durable consumer goods rose to 32.0.

The latest survey was conducted on August 15 covering 8,400 households.

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