Japan's housing starts disappoint in December, falling 4.0% below forecasts

Posted on February 5, 2024   |  

In December, Japan's housing starts declined for the 7th consecutive month but at a slower-than-expected pace.

Housing starts fell by 4.0% year-on-year in December, surprising economists who had anticipated a 6.2% decrease.

Most categories saw a contraction in new construction, except for those built on a larger scale.

The seasonally adjusted annualized number of housing starts increased to 814,000 in December from 789,000 in the previous month.

Construction orders received by the top 50 contractors showed a 0.4% annual increase in December, following a significant 33.6% surge in the prior month.