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Japan Housing Starts Continue To Fall In October
11/30/2009 1:06 AM ET
(RTTNews) -
Japan's housing starts dropped 27.1% year-on-year in October, slower than a 37% drop in the previous month, the latest report from the Ministry of Land, Infrastructure, Transport and Tourism said Monday. Economists expected a 33.5% drop. The housing starts have now been declining continuously since December last year.
The annualized housing starts stood at a seasonally adjusted 762,000, up from 699,000 in September. Economists expected it to be 705,000.
Meanwhile, construction orders received by 50 big contractors dropped 40.1% year-on-year in October, faster than a 14% fall in the previous month.
by RTT Staff Writer
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