People along a shopping area in Osaka. — AFP
TOKYO: Japan's economy grew faster than expected in the fourth quarter, on improved business spending and a surprise increase in consumption and shoring up the central bank's case for more interest rate hikes.
Gross domestic product expanded 2.8% annualised in the October-December quarter, preliminary data showed on Monday, beating a median market estimate of a 1.0% gain in a Reuters poll.
