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China introduces services index

China introduced a new indicator 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, the National 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.