Japan posts longest growth streak since 1980s bubble economy

Tokyo

JAPAN'S economy posted its longest continuous expansion since the 1980s boom as fourth quarter growth was boosted by consumer spending, moving Prime Minister Shinzo Abe's revival plan a step closer to vanquishing decades of stagnation.

The long run of growth is an encouraging sign for the Bank of Japan, hinting that the economy may at last be building up momentum to lift consumer prices toward its 2 per cent inflation target.

The economy expanded at a 0.5 per cent annualised rate in October-December, less than the median estimate for annualised growth of 0.9 per cent, Cabinet Office data showed on Wednesday.

That followed a revised 2.2 per cent annualised increase in July-September.

Japan's economy grew a real 1.6 per cent in calendar 2017, the fastest increase since a 2.0 per cent expansion i…