Japanese housing starts rise for the third consecutive month in May

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IHB/RS
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Housing starts in Japan increased for the third straight month in May, according to data revealed by Japan's Ministry of Land, Infrastructure, Transport and Tourism. 

Housing starts grew by 5.8 percent year-on-year in May, faster than the 0.4 percent April rise and higher than the 5.5 percent growth forecast by economists.

The number of annualized housing starts fell to 912,000 in May from 913,000 in April. It was expected to rise to 915,000.

Construction orders received by 50 big contractors declined 7.4 percent year-on-year in May, following a 12.1 percent fall in April. This was the second consecutive decrease in orders.

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