Japan’s economy grows for 7th straight quarter

Japan’s economy expanded 0.5% in the third quarter compared with the preceding quarter, equivalent to an annualized growth rate of 2%, thanks to brisk exports and firm capital spending.

Financial markets expected growth of 0.2%, or an annualized expansion of 1%.

The pace of growth picked up after the revised 0.4% expansion in the second quarter.

It was the seventh straight quarter of expansion.