Japan's Wages and Consumer Spending Decline, Blackstone Expects India and Japan as Active Markets

Japan's wages and consumer spending continue to decline, posing challenges for the Bank of Japan's ultra-loose monetary policy. Major companies have agreed to higher pay hikes, but economists remain skeptical about consumption recovery. Blackstone expects India and Japan to be its most active markets in Asia next year. Japan's service activity shows the slowest growth this year, with weak demand. The government recently announced a $113 billion package of measures to mitigate the economic impact of inflation. Japan's defense industry is experiencing growth due to increased government defense spending, but not all manufacturers are optimistic about long-term demand.