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Tuesday 10 February 2009
Mainland power output falls 13.1pc
Mainland power output dropped 13.1 per cent year on year last month, a fourth consecutive decline that was likely exaggerated by the week-long Lunar New Year holiday, which fell in February last year.
Mainland power output dropped 13.1 per cent year on year last month, a fourth consecutive decline that was likely exaggerated by the week-long Lunar New Year holiday, which fell in February last year.
Power output from plants connected to major grids fell from January last year to 250.3 billion kilowatt-hours, an industry source said yesterday. That was also down 9 per cent from December.
When the Lunar New Year fell in February last year, power output tumbled 21 per cent from January, and some analysts took heart that this year’s month-on-month decline was shallower.
“The slower decline shows that the economy is bottoming out,” said an analyst at a large trading company.
But most said it was impossible to determine from the data whether the world’s third-largest economy was rebounding, despite a growing sense of optimism that aided stock markets last week.
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Mainland power output falls 13.1pc
Reuters in Shanghai
10 February 2009
Mainland power output dropped 13.1 per cent year on year last month, a fourth consecutive decline that was likely exaggerated by the week-long Lunar New Year holiday, which fell in February last year.
Power output from plants connected to major grids fell from January last year to 250.3 billion kilowatt-hours, an industry source said yesterday. That was also down 9 per cent from December.
When the Lunar New Year fell in February last year, power output tumbled 21 per cent from January, and some analysts took heart that this year’s month-on-month decline was shallower.
“The slower decline shows that the economy is bottoming out,” said an analyst at a large trading company.
But most said it was impossible to determine from the data whether the world’s third-largest economy was rebounding, despite a growing sense of optimism that aided stock markets last week.
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