Japan's housing starts fall sharply in September

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Japan's housing starts further declined in September, data from the Japanese Ministry of Land, Infrastructure, Transport and Tourism showed on Friday. 

Year-on-year, housing starts slipped another 14.3% in September after falling 12.5% in August. However, the decline was lower than forecasts by economists, which were estimating a 17.2% decrease. 

In September, annualized housing starts totaled 880,000 compared to 845,000 from the previous month. Orders received by 50 big contractors also fell by 40.3% yoy, after rising 8.6% in August. 

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