Japan's economy grows at annualized rate of 1.4 percent in July-September quarter

TOKYO, Nov. 15 (Xinhua) -- Japan's economy grew at an annualized rate of 1.4 percent in the July-September quarter, the Cabinet Office said Wednesday.

According to the latest government data, the expansion in inflation-adjusted gross domestic product compares with a 0.3 percent increase from the previous quarter.

Among the key components of Japan's GDP, private consumption declined 0.5 percent in the recording period, the Cabinet Office said.

GDP is one of the primary indicators used to gauge the health of Japan's economy. It represents the total value of all goods and services produced over a specific time period and illustrates the size of the economy.

Annual GDP figures are often considered the benchmark for the size of Japan's economy.