Japan’s Housing Starts Decline in July

Japan’s housing starts declined more than expected in July, data from the Ministry of Land, Infrastructure, Transport and Tourism revealed Thursday.

Housing starts decreased 2.3 percent year-on-year in July, in contrast to a 1.7 percent rise in June. This was also bigger than the expected drop of 0.2 percent.

Annualized housing starts declined to 974,000 from 1.003 million in June. The expected level was 99,000.

Meanwhile, construction orders received by big 50 contractors increased sharply in July. Orders logged a double-digit annual growth of 14.9 percent versus 2.3 percent rise a month ago.

via RTT News

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza