The Wall Street Journal: Japan GDP growth streak extends to longest stretch in 16 years

TOKYO — Japan’s economy grew at an annualized pace of 1.4% in the July-September quarter, marking its longest growth streak in 16 years with help from stronger global demand.

The growth for the seventh straight quarter is welcome news for Prime Minister Shinzo Abe, who won a new mandate from voters in a national election on Oct. 22 to continue pushing the world’s third-largest economy out of years of economic malaise. But private consumption fell an annualized 1.8% in the quarter, showing how his economic policies have yet to rouse consumers.

Gross domestic product growth for the three-month period through September was the same as a 1.4% increase expected by economists polled by The Wall Street Journal. The expansion was largely driven by exports, which rose an annualized 6% in the quarter.

Since Abe took office in late 2012, he has been trying to end years of sluggish growth and deflation through his Abenomics policy package, which is aimed at getting the economy into a cycle of rising wages, spending and inflation. Recently, a weaker yen and a stronger economy in key markets such as China and the U.S. have boosted corporate earnings to a record high.

An expanded version of this report appears on WSJ.com.

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