China's power consumption to jump 6 pct


China's power consumption, an important indicator of economic activity, is expected to rise 6.5 percent in the second quarter, bringing the annual rate for 2014 to around 6 percent, according to a report released by China Electricity Council.

In the first half of the year, power use rose 5.3 percent from a year ago to reach 2.63 trillion kwh, earlier official data showed, as the economy expanded 7.4 percent during the period, slightly below the government target of 7.5 percent.

In breakdown, electricity use by primary industries dropped 4.6 percent year on year. Power consumption by the industrial sector rose 5.1 percent while that by tertiary industries went up 6.9 percent.

The China Electricity Council expects the economy to steadily grow in the latter half of the year as a string of government support policies gradually filter through, which will give a boost to power use.

So far, several key economic indicators have pointed to gaining strength in the economy. The purchasing managers' index rose to 51.7 in July, the highest level in more than two years.

Source from : shippingazette