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Japan economy grows for 8th straight quarter, longest since 1980s

AFP  |  Tokyo 

Japan's grew for the eighth straight quarter at the end of 2017, government data showed today, the longest period of expansion since the boom days of the late 1980s.

in the fourth quarter of last year rose 0.1 per cent from the previous three months, the said.

But the growth fell short of market expectations for a rise of 0.2 per cent and represented a slowdown from the 0.6 per cent in the preceding July-September quarter.

At an annualised rate, the world's third largest grew 0.5 per cent.

The gains were driven by upturns in consumer spending as well as increased investment by Japanese firms on equipment and facilities.

Exports rose but imports increased at a faster pace.

The continuing economic growth is good for Shinzo Abe, who has been trying to fire up the with his pro-spending policy.

The Japanese economy has enjoyed a period of export-driven growth, helped by a recovering global economy.

It has also got a shot in the arm from domestic demand spurred by infrastructure upgrades ahead of

However, with wage growth and consumption persistently lukewarm, the world's third-largest economy is still battling deflation.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 14 2018. 06:10 IST