Expansion in power use recovers but remains low
Print Edition
Growth in China’s electricity consumption, an important indicator of economic activity, further recovered in June but remained low, suggesting persistent tepidity in the world’s second-largest economy.
Power use rose 1.8 percent year on year to 472.3 billion kilowatt hours in June, up from a 1.6 percent rise in May and a 1.3 percent rise in April, the National Energy Administration said yesterday.
In the first half of this year, power use rose 1.3 percent. Electricity use by primary industry climbed 0.9 percent from a year earlier. Power consumption by secondary industry dipped 0.5 percent, while tertiary industry rose 8.1 percent amid economic restructuring.
The lukewarm data added to a slew of other indicators showing growth momentum has yet to solidify despite a string of government support policies, including three cuts in both benchmark interest rates and banks’ reserve requirement ratio in the first half, and the government’s accelerated fiscal spending on infrastructure to shore up investment.
China’s economy grew 7 percent year on year in the second quarter of 2015, flat from the first quarter.
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