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Japan Housing Starts Jump In March

Japan's housing starts rose sharply in March, climbing for the fourth consecutive month, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts advanced 10 percent in March year-on-year, following a 4.2 percent increase in February. Economists had forecast the housing starts to rise 5.5 percent.

Growth in housing starts was largely driven by a 62.4 percent surge in issued dwellings, and a 69.5 percent jump in collective housing. Starts for the built-for-sale category grew 33 percent.

Annualized housing starts increased to 989,000 from 967,000 in February. The expected level was 951,000.

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