17 January 2020

Businesses optimistic about 3Q economic growth, Xinhua says

A growing number of entrepreneurs are confident about economic growth in the third quarter when industrial activity is expected to have picked up, Xinhua news agency reported Monday, citing a survey by international auditor Grant Thornton. About 31 percent of the respondents said they are optimistic, up 27 percentage points from the previous quarter. Meanwhile 65 percent expect increased earnings in the next 12 months, up from 60 percent in the second quarter,  the report said. Rising labor costs and limited financing were their top concerns, with 64 percent expecting an increase in wages in the next 12 months.

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