The economy expanded an annualized real 3.1 percent in the January-March period from the previous quarter, revised sharply upward from a 1.9 percent increase in the initial report on strong capital investment data, the government said Monday.

The growth, measured in terms of gross domestic product, corresponds to a 0.8 percent rise on a quarter-to-quarter basis, compared with the earlier reported 0.5 percent gain, the Cabinet Office said.

The result was almost in line with the average market projection.