TOKYO (dpa-AFX) - Japan's housing starts continued to increase but the pace of growth softened in January, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Monday.
Housing starts rose 2.1 percent yearly in January, following a 4.2 percent increase in December. Economists had forecast an annual growth of 1.7 percent.
Annualized housing starts fell to a seasonally adjusted 820,000 in January from 838,000 in the previous month.
Data also showed that construction orders received by big 50 contractors grew 11.0 percent year-on-year in January, following a 4.8 percent increase in December.
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