China introduces services index
China introduced a newindicator for the services sector, to better track the vast range of activities from movies to restaurants, that now accounts for more than half of the economy. The services output index rose 8.2 percent in January and February from a year earlier on growth in technology, transportation, and deliveries, theNational Bureau of the Statistics said on Tuesday in the first release of the index. It plans to update the measure each month. The NBS said the index tracks the output of services, also known as the tertiary sector, without deducting the input costs, which means it’s different to a quarterly report released with the government’s data on gross domestic product. repurchase agreement, is the sale of securities to banks tied to an agreement to purchase the securities back in the future. A reverse repo is the purchase of a security to be sold back later. more than offset by growth in its injectables and branded business. Hikma also said it expects profitability of its generics business to significantly improve in 2017, driven by newproduct launches and an enhanced mix of sales. The company, which makes and markets branded and nonbranded generic and injectable drugs, maintained its expectation of $800 million in revenue from the generics business.