Japan's housing starts decreased sharply for the second straight month in May, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Monday.
Housing starts slumped 34.4 percent year-on-year in May, faster than the 26.6 percent decline in April. Economists had expected a decrease of 15.0 percent.
The data indicated a decrease in new construction across all categories, with the exception of issued ones. The decline was more evident in the built-for-sale category, which tumbled by 43.8 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.