GDP up 4.9% for 4th quarter of growth

Japan's economy grew an annualized 4.9 percent in real terms in the January-March quarter, posting its fourth consecutive term of expansion, the Cabinet Office said in a preliminary report Thursday.

The increase is a sign the economy is buoyed by healthy exports, the report said.

The nation's gross domestic product showed a seasonally adjusted 1.2-percent rise from the October-December quarter.

On a nominal basis, GDP also rose an annualized 4.9 percent, corresponding to a 1.2-percent quarterly rise over the previous three months. The annual rate was 0.03 percentage point higher than that posted on a real basis, the first time the nominal figure has exceeded the real figure in five quarters.

Consumer spending, totaling about 60 percent of the GDP, rose for the fourth straight quarter, up a real 0.3 percent from the previous term.

Exports also rose 6.9 percent for the fourth straight quarter of increase on higher demand from China and other parts of Asia.