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China's power consumption falls: state media
Beijing (AFP) Nov 16, 2008 China's power consumption fell in October from the same month a year ago, the first decline since 1999, state media reported Sunday, underlining the hit the nation has taken from the global economic woes. The world's fourth largest economy used 269.9 billion kilowatt hours last month, down 3.7 percent from October 2007, the Xinhua news agency said, citing the China Electricity Council. Economic growth in China slowed to nine percent in the third quarter, the lowest level in over five years, and unnamed experts quoted by Xinhua warned the power data could herald a further weakening of growth. Xinhua quoted analysts with Shanghai-based Guotai Jun'an Securities as saying the drop in consumption, combined with a fall in power output, signalled a slowdown in the country's economy that went "beyond expectations". "The sector has cut production due to a continuous price slump of industrial commodities both at home and abroad," said a Guotai Jun'an analyst, according to Xinhua. Related Links
Analysis: Energy body vital to Obama plan
Washington DC (UPI) Nov 16, 2008A National Energy Council could be a key ingredient in the next administration's plan to wean the nation off Middle Eastern oil and mitigate climate change, experts say. |
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