Japan’s housing starts declined in October albeit at a softer pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Monday.

Housing starts decreased 8.3 percent year-on-year in October, following a 9.9 percent fall in September. Economists had forecast an annual decline of 8.6 percent.

Annualized housing starts decreased to 802,000 in October from 815,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors fell marginally by 0.1 percent on a yearly basis in October, after a 10.6 percent drop in September.

The material has been provided by InstaForex Company – www.instaforex.com

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