Japan's housing starts drop by 8% in November

Posted on January 2, 2024   |  

In November, Japan saw its housing construction drop for the 6th month in a row, and the decline was faster than expected.

The numbers showed an 8.5% drop in housing starts compared to the same time last year, which was worse than the 6.3% drop seen in October. 

Experts expected a decline of 4.3%.

New construction activities are reduced in various categories, like homes people own, homes for rent, and larger building projects.

The adjusted yearly figure for housing starts went down from 808,000 in the month before to 775,000 in November.

On a different note, the big 50 construction companies received 33.6% more orders in November compared to the previous year, following a 4.2% increase in the month before.