The economy grew at a much faster than initially reported annualized rate of 1.6 percent in the October-December period, thanks to robust corporate spending freshly signaling strengthening domestic demand, the government said Thursday.

The upward revision from the 0.5 percent increase confirmed Japan has posted eight straight quarters of growth, its longest run in 28 years.

Still, growth slowed from the July-September period when the economy registered a 2.4 percent annualized gain.