Japan's Recession Drops It to Fourth Largest Economy Behind Germany

Japan's economy slipped into a recession, causing Germany to overtake it as the world's third-largest economy. Both countries are facing labor shortages, falling birthrates, and aging populations, with Japan being the more acute case. The weak data from Japan raises doubts about the Bank of Japan's forecast and its plans to phase out stimulus, while some analysts believe that Japan's tight labor market and robust corporate spending may support the central bank's plans. India is projected to surpass both economies to become the third largest in the world soon.