Power Consumption in China Slows Down

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.

via Xinhua

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza