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

Monetary Policy

REUTERS SHOWCASE

Monetary Policy

Monetary Policy

Fed renews zero rate pledge, but hints at steeper rate hike path.  Full Article 

Eyeing Stocks

Eyeing Stocks

Interview - EPFO chief urges green light to buy stocks  Full Article 

Stimulus Reports

Stimulus Reports

China cenbank injects $81 bln into major banks to support economy - reports  Full Article 

Ranbaxy Investigation

Ranbaxy Investigation

Ranbaxy says U.S. authorities seek information on pricing data.  Full Article 

E-Commerce

E-Commerce

Tiger Global leads $60 million investment in Quikr.  Full Article 

Monsoon Update

Monsoon Update

Delayed retreat of monsoon rains to start this weekend  Full Article 

Financing Deal

Financing Deal

IndiGo agrees $2.6 billion aircraft finance deal with China's ICBC  Full Article 

Grim Outlook

Grim Outlook

Sony deepens loss estimate on struggling smartphone business  Full Article 

Reuters India Mobile

Reuters India Mobile

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