UPDATE 1-China Sept power output growth at 3-month low

Thu Oct 18, 2012 8:12am IST

A statue of Ganesh, the deity of prosperity, is carried in a taxi to a place of worship on the first day of the ten-day-long Ganesh Chaturthi festival in Mumbai August 29, 2014. REUTERS/Danish Siddiqui

Ganesh Chaturthi Festival

During Ganesh Chaturthi idols will be taken through the streets in a procession accompanied by dancing and singing, and will be immersed in a river or the sea in accordance with Hindu faith.  Slideshow 

(Adds details)

SHANGHAI Oct 18 (Reuters) - China's power output in September rose 1 .5 percent from a year ago, with the pace of growth cooling to the lowest in three months as a slowing economy dampened electricity demand from industrial users.

Power production in September was 390.7 billion kilowatt-hours (kWh), down 10 percent from August and the lowest since May, data from the statistics bureau showed on Thursday.

Annual growth in power output has slowed markedly from the double-digit rates posted most of last year, as demand from core industrial users in the steel, cement and smelting sectors weakened on the back of China's economic slowdown.

China's GDP grew 7.4 percent in the third quarter from a year earlier -- in line with forecasts from economists polled by Reuters -- the first miss of the official target since 6.5 percent growth in the first quarter of 2009.

In further evidence of slack industrial demand, power consumption rose just 2.9 percent from a year earlier in September, slowing further from the previous month to the lowest in eight months.

Tepid demand from energy-intensive industries has caused domestic coal prices to drop around 20 percent since January. (Reporting by Fayen Wong; Editing by Ed Davies)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Coal Block Allocation

Coal Block Allocation

Government urges Supreme Court to not cancel some 'illegal' coal mines  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit  Full Article 

HSBC PMI

HSBC PMI

Factory activity expands at slower clip in August.  Full Article 

Market Outlook

Market Outlook

Indian shares headed for correction, but outlook strong - BofA Merrill.  Full Article 

India Infrastructure

India Infrastructure

RBI rule handicaps India's infrastructure hopes  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past  Full Article 

China Economy

China Economy

Retreat in China's PMIs heightens calls for policy easing.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage