Elderly Reveal Japan Grows Without Wage Growth: Cutting Research

Prime Minister Shinzo Abe’s policies to boost Japan’s growth and reflate the economy can succeed even if wages don’t immediately accompany price increases, according to Barclays Plc.

People born between 1947 and 1949, part of the country’s baby boom, are starting to retire and will become buyers rather than workers and savers, Tokyo-based economists Kyohei Morita and Yuichiro Nagai wrote in a July 23 report. A “staggering” 2.21 million people will join Japan’s consumer ranks annually by 2014 even as the total population declines, they said.