Japan experienced a 5th straight monthly drop in housing starts in October, although the decrease occurred at a pace slower than anticipated.

On a year-over-year basis, housing starts in Japan saw a 6.3% reduction, following a 6.8% drop in September.

The seasonally adjusted annualized figure for housing starts rose to 808,000 in October, surpassing the 800,000 reported in September.

Various categories of new construction in Japan, encompassing owned, issued, rented, and built for scale, all witnessed contraction.

Notably, construction orders received by the largest 50 contractors in the country demonstrated a 4.2% annual recovery, reversing a 3.0% decline observed in September.