Japan's economy expanded in the third quarter more than initially reported, as business investment grew at a faster pace.
Gross domestic product expanded an annualized 2.5 percent (estimate +1.5 percent) in the third quarter. That compares with a preliminary reading of 1.4 percent.
Business spending rose 1.1 percent (estimate +0.4 percent) from the previous quarter. Preliminary reading was +0.2 percent.
Private consumption declined 0.5 percent. Preliminary reading was -0.5 percent.
Net exports, or shipments less imports, contributed 0.5 percentage point to growth. This was unchanged from the preliminary reading.
The Japanese economy has grown for seven straight quarters, its longest expansion since comparable data back to the mid-1990s. A nearly year-long recovery in exports is driving corporate profits and business investment. A slew of key October indicators suggest that while growth may slow a bit, the GDP expansion will continue in the fourth quarter, even as consumer spending remains lackluster.