TOKYO, Feb. 14 (Xinhua) -- 's economy grew at an annualized rate of 0.5 percent in the October-December period, the government said on Wednesday.

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.

In inflation-adjusted terms, gross domestic product compares with a 0.1 percent increase from the previous quarter, the data showed.

Private consumption, a key component of 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.