Japan's GDP grows for seventh straight quarter as exports outperform

The Japanese economy is witnessing the longest period of uninterrupted growth in more than a decade on the back of strong export growth.

The data released today showed the economy expanded at a 1.4 percent annualized rate in July-September on strong exports and slightly above the median estimate for annualized growth of 1.3 percent. That followed revised annualized growth of 2.6 percent in April-June.

Quarter-on-quarter, the growth rate declined to 0.3 percent from a 0.6 percent rise witnessed in the previous quarter.

Net foreign trade (exports-imports) added 0.5 percent to growth. Also, Capital expenditure rose 0.2 percent. Meanwhile, private consumption, which accounts for about two-thirds of GDP, fell 0.5 percent from the previous quarter.