HONG KONG, Aug. 28 /PRNewswire-Asia/ -- Next week sees a raft of economic data released in Japan which will provide key indications to the near term health of the real estate market. Kicking off the week is the publication of housing starts and construction orders on Monday 31st August. To be released on the same day are the latest retail sales data, nominal wages and preliminary industrial production numbers. An assessment on the rental outlook for the office sector may be made clearer with the release of the latest PMI business survey of the services industries which is due on Thursday 3rd September.
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US residential construction recovery to continue
An update on the US construction sector is due next week with the release on construction spending data for July on Tuesday 1st September. Total construction sector spending has shown modest signs of stabilization in recent months although the 0.3% monthly increase recorded in June was not enough to reverse the 0.8% fall in May.
Australia building approvals will rise further
Next week, the latest update on the Australian property market will come from building approvals data for July, to be released on Tuesday 1st September. These numbers should reflect that building activity has continued to thrive in the private residential sector.
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