Japan’s economic growth stumbles as exports struggleAugust 13, 2012 - 14:19 AMT PanARMENIAN.Net - Growth in export-driven Japan slowed in the three months to June, official data showed on Monday, Aug. 13 with the debt crisis in Europe and the unsteady global economy crimping demand. Gross domestic product grew a worse-than-expected 0.3 percent in the second quarter from the previous three months, the Cabinet Office said, a fourth straight rise but much slower than the brisk 1.3 percent seen in January-March. The data came in significantly lower than market expectations for a 0.7 percent increase, as exports slowed and despite a ramp-up in government spending since the March 11 quake-tsunami disaster last year. The economic growth translated into an annualised 1.4 percent rise, below the market forecast for 2.7 percent increase and sharply slower than the 5.5 percent expansion in the January-March quarter. Adding to the headwinds being faced by the world's number three economy is the strong yen, which has made the country's exports less competitive in overseas markets. However, Japanese economic and fiscal policy minister Motohisa Furukawa highlighted the growth of private demand to support his view for continued moderate growth, AFP reports. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |