Japanese housing starts recover in June

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Fordaq
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Japanese housing starts rebounded in June, figures from Japan's Ministry of Land, Infrastructure, Transport and Tourism showed last week.

Housing starts increased unexpectedly 1.7 percent year-on-year in June, reversing a 0.3 percent fall in May. Housing starts were forecast to drop 0.2 percent.

Annualized housing starts increased to 1.003 million from 0.998 million in the previous month. The expected level was 987,000.

Construction orders received by big 50 contractors also recovered in June after falling for two straight months. Orders advanced 2.3 percent annually, in contrast to a 0.5 percent fall in May.

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