Japan's economy grew for a seventh straight quarter, its longest expansion since 2001, as rising business investment and a recovery in exports offset a decline in consumer spending.

Gross domestic product grew at an annualized rate of 1.4 percent in the three months ended Sept. 30, compared with a revised 2.6 percent in the previous quarter.

Net exports, or shipments minus imports, added a 0.5 percentage point to GDP.