Japan's annualized GDP growth in April-June revised down to 1.3%

Japan's economy grew an annualized real 1.3 percent in the April-June quarter, revised down from the 1.8 percent expansion initially reported, due to a downgrading in capital expenditure, government data showed Monday.The result compared with the average 1.2 percent growth forecast by private-sector economists polled by Kyodo News.The figures released by the Cabinet Office reflect the government's view that the world's third-largest economy is recovering at a moderate pace.The growth in real gross domestic product, the total value of goods and services produced in the country adjusted for i…READ FULL ARTICLE