Japan housing starts YoY October -4.8% vs. -2.8% estimate

Annualized housing starts for October 0.952M estimate

Japan's housing starts for October comes in weaker than expected:

• October YoY housing starts are down -4.8% vs -2.8% estimate. The prior month came in at -2.9%
• Annualized housing starts come in at 0.933M vs 0.952M estimate. The 3 month average is lower at 0.943M (see chart below)

Not great news from the housing front.