TOKYO (dpa-AFX) - Japan's housing starts decreased sharply for the third straight month in June, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Thursday.
Housing starts dropped 15.6 percent year-on-year in June, slower than the 34.4 percent decline in May. Economists had expected a decrease of 16.3 percent.
The data indicated a decrease in new construction across all categories, with the exception of issued ones. The decline was more evident in the built-for-sale category, which tumbled by 17.9 percent.
There was also a sharp decrease of 16.4 percent and 14.0 percent, respectively, in the owned and rented segments.
The seasonally adjusted annualized number of housing starts rose to 647,000 in June from 529,000 in May.
Data also showed that construction orders received by the big 50 contractors grew 22.5 percent annually in June, after a 14.0 percent rise a month ago.
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