JAPAN DATA: Japan’s housing starts are expected to rise 9.9% to
898,900 units in fiscal 2011, the Research Institute of Construction and
Economy said, revising up its previous quarterly forecast for +7.0% at
882,000. By contrast, the organization revised down its estimate for
this fiscal year ending March 31 to 817,800 units (+5.5%) from its
previous projection of 824,100 units (+6.3%). The upward revision for
fiscal 2011 is in line with the BOJ’s assessment released today, which
said, “Housing investment is showing signs of picking up.” Housing
starts showed year-on-year increases for the sixth straight month
in November 2010