Japan's Wages and Consumer Spending Decline, Goldman Sachs Chief Economist Leaves

Japan's wages and consumer spending continue to decline, putting pressure on labor groups to demand higher wage increases. The Bank of Japan sees sustainable pay increases as a prerequisite for unwinding its ultra-loose monetary policy. Meanwhile, Goldman Sachs' chief Japan economist is leaving the firm after over a decade. 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.