Rise in Asia's wages outruns rest of the world

The Asia Pacific region has outperformed the rest of the world when it comes to wage growth, according to an International Labour Organisation (ILO) report.

Annual average incomes rose 6% in the region, compared to a global average growth of 2% in 2013.

Wages in China have risen the fastest, up 9%, according to the UN body.

But despite the

US economy grows faster than first forecast

The US economy grew much faster in the third quarter than first reported, official figures have shown.

It expanded at an annualised rate of 3.9% between July and September, up from the 3.5% first estimated by the Bureau of Economic Analysis.

The rise, which follows a strong second quarter, means the US has seen its strongest two consecutive quarters of growth for a decade.

Consumer spending was the biggest driver of the raised estimate.

It grew by 2.2% according to the latest estimate, which was higher than the initial calculation of 1.8%.

Consumer spending is closely watched as it accounts fo