BEIJING - 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.That also pushed up business confidence as the sub-index of future activity increased for the first time in three months amid hopes that new product lines, expansion plans and rises in client budgets will help boost sales.
"Growth in supply and demand in both the manufacturing and services sectors accelerated slightly, with improved exports and sustained market optimism," said Wang Zhe, economist at Caixin Insight Group. Here's how much Americans have saved up in their retirement accounts by age — are you ahead or way behind?The NHTSA recently announced recalls for 551,211 vehicles. This includes Kia, Subaru and Ford cars as well as Kawasaki and BMW motorcycles.Intel on Tuesday disclosed deepening operating losses for its foundry business, a blow to the chipmaker as it tries to regain a technology lead it lost in recent years to Taiwan Semiconductor Manufacturing.
About half a million workers at California fast food chains began receiving a $20-an-hour minimum wage on Monday, and the increase had some small business owners questioning their future, even as workers said the raise helps pay the bills. Governor Gavin Newsom, who signed the compromise into law last September, said one goal is to make the state's economy more inclusive. To Brian Hom, 66, it feels the opposite.
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