Japan's economy grows unexpectedly strongly

Japan's economy grows unexpectedly stronglyTokyo  - Japan's gross domestic product (GDP) grew unexpectedly strongly in the third quarter at an annualized rate of 4.8 per cent, the government said on Monday.

The growth was the highest since 2007 and beat analysts' expectations.

GDP grew 1.2 per cent compared to the previous quarter.

The government said that the figures proved that the economic recovery is continuing.

Private consumption, which contributes to about 60 per cent of the country's economic performance, rose in the third quarter by 0.7 per cent in real terms compared to the previous quarter.

Capital investment rose by 1.6 per cent.

Domestic demand contributed to 0.8 percentage points of the 1.2-per-cent rise in GDP and foreign demand to 0.4 percentage points. (dpa)