Japanese housing starts declined at a slower than expected pace in February, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Tuesday.
Housing starts dropped 3.1 percent in February from last year, slower than January's 13 percent decline and an expected decrease of 7 percent. It fell for the twelfth consecutive month in February.
The number of annualized housing starts increased to 905,000 from 864,000 in January. It was forecast to rise marginally to 876,000.
The number of construction orders received by big 50 contractors grew at a much slower pace of 1 percent on a yearly basis in February. A month ago, orders surged 27.5 percent.
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