Japan's housing starts decreased for the third straight month in August, and at a faster-than-expected pace, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Friday.
Housing starts dropped 9.4 percent year-on-year in August, faster than the 6.7 percent decline in July. Economists had expected an 8.9 percent fall.
Data showed that new construction was contracted in all categories, including owned, issued, rented, and built for scale.
Data also showed that construction orders received by the big 50 contractors dropped 4.3 percent annually in August, reversing an 8.7 percent increase in the prior month. It was the first fall in five months
