China's services activity growth speeds up in March, Caixin PMI shows

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China's services activity growth speeds up in March, Caixin PMI shows
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Carbon tax protest at Nova Scotia-New Brunswick border | SaltWire #newbrunswick #novascotia #rallyBEIJING - China's services activity growth accelerated in March as new business rose at the quickest pace in three months, a private-sector survey showed on Wednesday, a sign sentiment was staging a tentative recovery in the world's second-largest economy.

Thanks to improving underlying demand and efforts to boost new orders, the pace of new business expansion was the fastest since December last year. However, better sales and business confidence failed to translate into higher recruitment. Employment levels shrank for a second successive month in March, though the rate of job shedding eased from February. According to respondents, resignations among staff and redundancies to improve productivity resulted in the fall in payroll numbers.

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