Japan's Housing Starts Growth Weakest In 3 Months

Japan's housing starts logged its weakest growth in three months in November, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Tuesday.

Housing starts grew at a slower pace of 6.7 percent year-on-year in November, following a 13.1 percent rise in October. The annual growth was the weakest since August and also slower than the expected 9.8 percent increase.

Annualized housing starts declined to 937,000 from 978,000 a month ago. This was the lowest level since January, when it totaled 873,000.

Construction orders received by 50 big contractors dropped 6 percent in contrast to October's 15.2 percent notable growth. Orders declined for the first time in four months in November.

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