Tokyo: Japan slipped into recession. Japan's economic growth slowed to 0.4% in the last quarter of 2023 (between October-December) and 2.9% in July-September. In cases where economic growth has slowed down for two consecutive quarters, the economy is considered to be in recession.
In addition, the Japanese currency, the yen, also weakened. As a result, Japan, which is the world's third-largest economy, fell to fourth place after America, China, and Germany.
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