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Japan Q4 GDP grows 1.0% annualized on exports, capex, misses 1.1% gain expected

Pedestrians cross the street in Tokyo's Akihabara district on May 18, 2016 in Tokyo, Japan.
Christopher Jue | Getty Images
Pedestrians cross the street in Tokyo's Akihabara district on May 18, 2016 in Tokyo, Japan.

Japan's economy grew at an annualized rate of 1.0 percent in October-December, posting a fourth straight quarter of expansion, led by solid exports and firmer capital expenditure, government data showed on Monday.

The preliminary reading for fourth-quarter gross domestic product compared with the median estimate of 1.1 percent growth in a Reuters poll of economists. It followed a revised 1.4 percent expansion in the prior quarter, the Cabinet Office data showed.

On a quarter-on-quarter basis, GDP rose 0.2 percent, versus 0.3 percent growth expected by economists.