Japan Nov Housing Starts Rebound More Than Forecast

(RTTNews) - Japan's housing starts climbed more-than-expected in November, after falling in the previous month, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Friday.

Housing starts rose 1.7 percent year-over-year in November, in contrast to a 2.5 percent fall in October, which was the first decrease in eight months. Economists had expected a 0.6 percent increase for the month.

The number of annualized housing starts grew to 886,000 in November from 862,000 in the preceding month. It was expected to climb to 890,000.

Construction orders received by 50 big contractors went up 5.7 percent annually in November, reversing a 25.2 percent slump in the previous month. It was the first rise in five months.