Japan's April-June GDP growth cut to 4.8% on soft domestic demand

Japan's economy grew an annualized real 4.8 percent in April-June, revised down from 6.0 percent reported earlier, hurt by weak capital spending and private consumption, the Cabinet Office said Friday.Real gross domestic product, adjusted for inflation, increased 1.2 percent from the previous quarter, compared with the preliminary reading of 1.5 percent. GDP is the total value of goods and services produced in a country.The world's third-largest economy expanded for the third straight quarter. But economists warn that the state of the economy is not as good as the headline figure suggests d…READ FULL ARTICLE