Japanese government data showed that the number of new housing projects in the country grew more than expected last September.
The Japanese Ministry of Land, Infrastructure, Transport, and Tourism stated that the number of housing projects that broke ground in Japan last September increased by 10% compared to the same month last year, following a 2.5% increase in August, marking the third consecutive month of growth and exceeding analysts’ expectations, who had forecast a 5.2% rise last month.
The annualized total number of new projects last month reached 984,000, compared to 956,000 the previous month. Analysts had expected the figure to reach only 940,000 last month.