Japan sees slowdown in economic growth

Official figures show that Japan’s economic growth slowed down in the third quarter of 2013 amid warnings by experts that the government’s pro-growth program is not enough to boost economy.

The latest government figures released on Thursday showed that the Japanese economy grew at the annualized pace of 1.9 percent in the July-to-September period, down from 3.8 percent in the previous three months.

Experts blame weak exports and consumer spending for the disappointing economic growth.

The government figures also showed that that the economy expanded 0.5 percent in the third quarter from its preceding period of three months.

The Japanese economic slowdown comes despite aggressive measures taken by the government in Tokyo this year to boost economic growth after years of stagnation.

Commentators say the Japanese government should implement promised economic reforms. Tokyo’s bold pro-growth program, a mix of big government spending and central bank monetary easing, is not enough to boost the economy, experts argue.

Japan’s Prime Minister Shinzo Abe, who came to power last December, has vowed to revive the economy by unveiling a series of measures, known as Abenomics, to help ensure long-term economic growth for country.

The measures are mainly based on a monetary policy, fiscal stimulus and structural reforms.