The economy is estimated to have expanded at an average annualized rate of 4.9 percent in real terms in the October-December quarter, according to projections by nine major economic research institutes.
The substantial growth of the economy, as measured by gross domestic product, was led by strong exports of electronic parts and other products to Asian markets and a resultant pickup in capital spending by domestic manufacturers, the institutes said as of Wednesday.
Consumer spending, especially on flat-screen TV sets and other digital household electronics, also contributed to the GDP growth. Such spending accounts for some 60 percent of Japan's GDP.