The world's third-largest economy, Japan has revised down its growth numbers for the second quarter, raising concerns about a slowdown. Its economy grew at an annual rate of 0.7% during the April to June period. That is down from its earlier estimate of 1.4%. Slowing exports and subdued domestic demand have hurt Japan's growth. The export sector, one of the biggest drivers of growth for Japan, has been hurt by slowing demand from key markets such as the US and eurozone. At the same time, growth in Asian countries, such as China and India, which had been faring better than western economies after the global financial crisis, has also slowed further hurting the sector.