The RatingDog China General Services PMI declined to 52.6 in October 2025 from 52.9 in September, remaining above market expectations of 52.5. The latest reading marked the softest expansion in the services sector since July, weighed down by a modest decline in foreign sales amid increased global trade uncertainty. Domestic demand showed some improvement, and total new orders remained in expansion, with the pace of growth quickening. Meanwhile, employment fell amid easing capacity pressures and cost concerns. On the price front, input cost inflation accelerated to a one-year high due to higher wages and rising raw material prices. By contrast, selling prices fell slightly to support sales amid increasing competition. Looking ahead, business sentiment weakened modestly amid concerns over the global trade outlook and intensifying competition.