RTTNews - Monday, the Ministry of Land, Infrastructure, Transport and Tourism said Japanese housing starts dropped 32.1% in July from the prior year, following a 32.4% fall in June. Economists were expecting an annual decline of 30.3%.

The annualized housing starts came in at 746,000 in July, smaller than June's 749,000 and the expected level of 766,000.

Construction orders received by the 50 big contractors plunged 42.8% year-on-year in July. In June, orders were down 28%.

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