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

Thu Oct 18, 2012 8:12am IST

(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

India-Nepal Ties

REUTERS SHOWCASE

Wipro Reaps Profit

Wipro Reaps Profit

Wipro Q1 profit up 30 pct on new contract wins   Full Article 

Monsoon Revives

Monsoon Revives

Monsoon revival keeps rain above average   Full Article 

Tackling Food Prices

Tackling Food Prices

India to free up extra 10 million tonne wheat in open market  Full Article 

Facebook Results

Facebook Results

Facebook beats Wall Street targets, stock hits record high  Full Article 

Struggling Economies

Struggling Economies

Asian economies to struggle on weak export demand - Reuters poll  Full Article 

Mining Roadblock

Mining Roadblock

Coal India's plans for 20 mines hit by land, environment delays  Full Article 

Power Jolt

Power Jolt

UAE's TAQA pulls out of India power plant deal with Jaiprakash  Full Article 

Factory Sector

Factory Sector

China July HSBC flash PMI at 18-month high of 52.0   Full Article 

Reuters India Mobile

Reuters India Mobile

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