October RatingDog China services business activity index fell to 50.8, down 0.8 points from September and the slowest expansion in three months, though still above the 50 expansion threshold as Q4 begins. Business activity continued to expand but at a slower pace, with capacity constraints cited. New business remained robust and roughly stable versus September. New export orders rose for a sixth consecutive month — the longest growth streak since 2024 — but the pace moderated. Input costs rose a

October RatingDog China services business activity index fell to 50.8, down 0.8 points from September and the slowest expansion in three months, though still above the 50 expansion threshold as Q4 begins. Business activity continued to expand but at a slower pace, with capacity constraints cited. New business remained robust and roughly stable versus September. New export orders rose for a sixth consecutive month — the longest growth streak since 2024 — but the pace moderated. Input costs rose at the fastest rate in five months. Selling prices fell for a second month amid intense competition, though the decline eased versus September. Overall: services expansion persists but is cooling; external demand is improving, while rising costs plus renewed price cuts are compressing corporate margins.