Japan Housing Starts Rise 8.2 Percent in August
Japan's housing starts grew by 8.2 percent year-on-year in August, marking the fifth consecutive month of growth across all residential segments.
The Ministry of Land, Infrastructure, Transport and Tourism reported that Japan's housing starts increased for the fifth consecutive month in August. Data released Wednesday shows a year-on-year growth rate of 8.2 percent, which surpassed the expected growth rate of 7.0 percent.
Growth occurred across all residential segments. The issued category led the increase with a 228.6 percent rise, while rented and built-for-sale categories grew by 6.5 percent and 6.4 percent, respectively. The owned category saw a modest increase of 1.0 percent.
Despite the annual growth, seasonally adjusted annualized housing starts declined to 753,000 in August, down from 774,000 recorded in July.
