China’s power consumption growth slowed further in July, as the country’s factory activity and industrial output posted weaker growth amid the economic downturn, the National Energy Administration (NEA) said Tuesday.
The nation’s total electricity consumption grew only 4.5 percent from a year earlier to 455.6 billion kWh, the NEA said in a statement on its website.
The July data brought electricity consumption in the first seven months to 2.83 trillion kWh, up 5.4 percent year on year, easing further from the 5.5 percent seen in the first half of this year, according to the NEA data.
In breakdown, power consumed by the agriculture sector dipped 0.4 percent year on year to 58.9 billion kWh, while electricity consumed by the industrial and manufacturing sector added 3.6 percent year on year to 2.1 trillion kWh.
But the service industry and residential power consumption expanded much faster than that of the agriculture and industrial sectors during the period, showed the NEA data.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.