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China鈥檚 power use shrinks in August
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CHINA’S power consumption shrank for the first time this year in August, another sign of slow growth, official data showed yesterday.
Electricity consumption, a broad measure of economic vitality, dropped 1.5 percent year on year to 502 billion kilowatt-hours last month, the first decline this year, according to data from the National Energy Administration.
That was in contrast to rises of 3 percent in July and 5.9 percent in June.
The contraction in August dragged the growth rate in the first eight months down to 4 percent, from 4.9 percent in the January-July period.
During the first eight months, electricity use by primary industry edged up by 0.3 percent from a year earlier. Power consumption by the manufacturing sector rose 3.9 percent, compared with 4.7 percent in the first seven months. Power consumption by the service sector rose 5.8 percent in the January-August period to 442 billion kwh, slower than the 6.5 percent in the January-July period.
Residential power use rose 3.8 percent, down from a 5.7 percent increase in the first seven months.
As a result, generating capacity was left idle. The average operational time of power plants dropped by 146 hours in the first eight months, widening from 102 hours in the first seven months.
Most major economic indicators released over the weekend, including industrial production growth, fixed-asset investment and retail sales, have pointed to the nation’s gross domestic product slowing in the third quarter following a rebound in the second quarter.
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