Economic Buzz: Japans Housing Starts Drop For Nine Successive Month

Japans housing starts dropped for the ninth successive month in March, the Ministry of Land, Infrastructure, Transport and Tourism showed Friday. Housing starts decreased 8.3% year-on-year in March, much faster than the 2.6% decline in February. Annualized housing starts totaled 895,000 in March versus 926,000 in the previous month. The construction orders received by big 50 contractors also dropped 4% yearly in March after a sharp growth of 19.2% in the prior month.