The economy grew an annualized 4.8 percent in the July-September period, marking the second straight quarter of growth amid stronger consumption and exports, the government said Monday.

It was the best performance since 5.7 percent growth was logged in January-March 2007.

Private consumption rose 0.7 percent from the previous quarter and private investment increased 1.6 percent, according to the Cabinet Office's closely watched quarterly report. Exports surged 6.4 percent, the same pace as during the April-June quarter.