China's Service Sector Sees Fastest Growth in 3 Months Despite Lingering Weak Demand

• China's services sector grows at fastest pace in 3 months in March based on Caixin PMI data • New business grows at quickest rate since December, boosting business confidence
• Employment levels continue to shrink despite pickup in growth • Caixin composite PMI rises to 15-month high, showing manufacturing and services gaining momentum • Sluggish demand persists as shown by continued job cuts and low inflation