Via Caixin:
China’s service sector continued to face challenging conditions in March, with the COVID-19 outbreak continuing to weigh on the performance of the sector. The declines in output and new orders were not as severe as those seen in February, however, when the country imposed stricter measures to reduce the spread of the virus. Nonetheless, companies cut staff numbers at the quickest pace on record amid a renewed rise in operating expenses and subdued client demand.
Although confidence around future activity improved from the record-low in February, the level of positive sentiment was nonetheless the second-weakest in the series history as\ concerns around the longevity of COVID-19 loomed large.