Japan’s latest growth figures are set to confirm that it slipped in rankings to become the fourth-largest economy in the world last year, a development that reflects the impact of its feeble currency and aging demographics.

While the economy is seen returning to annualized growth of 1.2% in the fourth quarter after a bruising contraction in the summer, figures for the calendar year are almost certain to show the value of output falling behind Germany’s in dollar terms. India’s economy, meanwhile, is poised to overtake both in the next few years.

For a country once tipped to eventually boast the world’s largest economy, the latest slide down the list of economic rankings will raise fresh questions for a domestic audience about the nation’s trajectory.