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Japan Housing Starts Continue To Decline

Japan's housing starts continued to decline in January, albeit at a softer pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts declined 3.1 percent year-on-year in January, following 9.0 percent fall in December. Economists had expected decrease of 2.5 percent.

Annualized housing starts rose to 801,000 in January from 784,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors grew 14.1 percent yearly in January, after a 1.3 percent decline in December.

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