Japan’s housing starts growth slowed more-than-expected in September, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Friday.
Annual growth in housing starts eased notably to 2.6 percent in September from 8.8 percent climb in the previous month.
Economists had expected a 5.8 percent gain for the month. However, it was the seventh consecutive monthly rise.
The latest rate of increase was the weakest since April this year, when it grew only 0.4 percent.
The number of annualized housing starts fell to 90,000 in September from 931,000 in August. Meanwhile, It was expected to rise to 936,000.
Construction orders received by 50 big contractors decreased at a slower pace of 2.5 percent annually in September, following a 15.6 percent sharp decline in the prior month.
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