New business growth slowed marginally in September from August, but new export orders rose at the fastest pace in seven months, helped by a recovery in tourism. The RatingDog China General Services PMI, compiled by S&P Global, slipped to 52.9 in September from 53.0 in August, staying above the 50-mark that separates growth from contraction. However, employment fell at the fastest pace in 17 months, as firms faced rising costs and reduced capacity pressures. We expect the services PMI to continue to expand in the near term,” Yao added. The Composite Output Index rose to 52.5 from 51.9, the fastest pace since June 2024, driven by services.