September survey data pointed to a further softening of growth momentum across China's service sector. Business activity and overall new orders both expanded at the slowest rates in 2023 to date. The milder increase in total sales occurred despite a fresh improvement in new export business. At the same time, confidence around the yearahead outlook continued to moderate, reaching a ten-month low in September. Job creation across the sector also slowed, with payrolls expanding only marginally overall. Cost pressures continued to ease, with average input costs rising at the slowest rate in 2023 so far. As a result, ... (full story)