China's softening growth slows power use

0 Comment(s)Print E-mail Xinhua, March 20, 2014
Adjust font size:

China's power consumption slowed in the first two months of 2014 in a further sign of dampening in the world's second-largest economy, official data showed on Thursday.

Electricity consumption, an indicator of economic activity, rose 4.5 percent year on year in the first two months, according to data released by the National Energy Administration.

The growth was down one percentage point from the rate seen in the same period last year, said the administration.

China's economy grew 7.7 percent last year, well above the government goal, but a set of data that pointed to softening manufacturing activity in recent months has renewed concerns on the growth outlook.

Earlier data showed the purchasing managers' index for the manufacturing sector retreated to an eight-month low in February and slowed for the third month running.

In view of the weak strength, several institutions have lowered their forecasts for China's economic growth in the first quarter.

The Bank of America Merrill Lynch has cut the GDP growth forecast in the first quarter to 7.3 percent from its previous estimate of 8 percent, while the Center for China in the World Economy under Tsinghua University tuned down its forecast to 7.4 percent from its January estimate of 7.5 percent.

In January and February, electricity use by primary industry totaled 11.3 billion kwh, down 7.8 percent year on year. Power consumption by secondary industry reached 582 billion kwh, up 4.3 percent, while that by tertiary industry gained 5 percent to reach 109.4 billion kwh. Endi

Follow China.org.cn on Twitter and Facebook to join the conversation.
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter