Chinese companies are increasingly optimistic on business activity, a new survey showed, even as recent data point to fresh signs of a slowdown in the world’s second-largest economy.
Confidence among firms in February rose to a one-year high, according to Markit’s latest business outlook survey released on Monday. China’s service industry was the most upbeat, with sentiment there surging to a three-year peak. Mainland businesses also anticipate higher revenues over the next 12 months as well as an increased pipeline of new work, Markit said.
The results paint a contrasting picture against recent data. Chinese industrial production for the first two months of the year fell back to levels seen during the 2008 financial crisis, while fixed asset investment for January and February was the weakest since 2001 and retail sales hit a decade low.
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