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2024.02.2905:08:00UTC+00Japan Housing Starts Decline 7.5%

Japan's housing starts decreased for the eighth straight month in January, though at a slightly slower-than-expected pace, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Thursday.

Housing starts dropped 7.5 percent year-on-year in January, following a 4.0 percent decline in December. Economists had expected a decrease of 7.7 percent.

Data showed that new construction was contracted in the categories of owned and built for sale.

The seasonally adjusted annualised number of housing starts declined to 802,000 in January from 814,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors increased 9.4 percent annually in January, much faster than the 0.4 percent rise in the prior month.

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