Japan housing starts rebound in September

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Source: RTTNews
© Scanpix/Reuters
Japan's housing starts rebound strongly in September, after three consecutive months of contraction, the Ministry of Land, Infrastructure, Transport and Tourism said on Wednesday. Housing starts rose 15.5% year-on-year, compared to a 5.5% contraction in August. However, economists expected a faster increase of 17%. 

Total housing starts were at annualized 866,000 in September from 888,000 in the previous month. Meanwhile, analysts had expected a reading of 870,000 starts. Construction orders for 50 major contractors advanced 3.6%, slightly slower than a 8.7% growth rate in August.
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Wed, 31 Oct 2012 16:53:02 GMT

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