Japan's economy expands annualized 0.5 percent in October-December period

TOKYO, Feb. 14 (Xinhua) --

According to the Cabinet Office, the reading in the recording period marked the the eighth straight quarter of growth, although the pace came in below median economists' forecasts.

Private consumption, a key component of GDP accounting for around 60 percent, was up 0.5 percent, in the recording period, the Cabinet Office's data showed.

Gross Domestic Product (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 here over a specific time period, often referred to as the "size" of the economy.