Japan's economy expanded 0.3 percent October-December 2013 from the previous quarter, posting the fourth-straight quarter of growth, government data revealed Monday. The data points to firm private consumption and a boost in capital spending in the world's third-largest economy.
The preliminary estimate of gross domestic product compared with the 0.7 percent growth that was anticipated by analysts in a Reuters poll.
The Cabinet Office data showed that findings followed a revised 0.3 percent gain in third quarter of last year.
The October-December GDP data amounted to an annualised expansion of 1.0 percent, compared with a median forecs.ast of 2.8 percent from economists, and 3.2 percent annualized growth in the U.S during Q4.
In the fifth straight quarter of gains, private consumption -- which accounts for about 60 percent of the Japan's economy -- rose by 0.5 percent, Reuters reported.
Up for a third straight quarter, capital spending -- which holds the key for sustained growth in Japan -- climbed 1.3 percent.