30.07.201002:18:00UTC+00Japanese Housing Starts Rise In June

Japanese housing starts increased 0.6% year-on-year in June, after declining 4.6% in May, the Ministry of Land, Infrastructure, Transport and Tourism reported Friday. However, the annual growth rate was smaller than the consensus forecast of 1.8%.

Annualized housing starts in June totaled 750,000, increased from 737,000 in May. The expected level was 759,000.

By contrast, construction orders received by big 50 contractors declined in June after increasing in May. Orders were down 10.2% compared to a 9.2% rise in May. Building construction orders fell 13.4% annually, reversing last month's 33.5% growth.

Copyright(c) 2010 News.com, Inc. All Rights Reserved