"Surprising Contraction: Japan's Economy Plunges in Q3"

Japan's economy contracted more than expected in the third quarter, with provisional gross domestic product falling 2.1% compared to a year ago, marking the first decline in four quarters. The weaker GDP print was driven by weaker domestic capital expenditure and flat private consumption, highlighting the challenges for the Bank of Japan as it considers an exit from its ultra-easy monetary policy. The Japanese government's economic package aims to mitigate rising living costs through subsidies and payouts to low-income households.