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China electricity consumption growth gathers pace
Last Updated(Beijing Time):2012-12-14 10:22

China's electricity consumption, an important barometer of economic activities, continued to gather pace in November, data from the National Energy Administration (NEA) showed Friday.

China's electricity usage went up 7.6 percent year on year to 413.9 billion kilowatt-hours (kwh) last month, higher than October's 6.1-percent rise. It also marked the second straight month of acceleration, according to NEA data.

The country's electricity consumption climbed 5.1 percent in the first 11 months compared with one year earlier. The pace of increase was also higher than the 4.9-percent growth registered during the January-October period.

The pick-up echoed other key economic indicators that showed China's economy is improving after posting a 7.4-percent expansion in the third quarter, the weakest growth in more than three years.

In November, China's value-added industrial output rose 10.1 percent year on year, rising from 9.6 percent in October and 9.2 percent in September, according to the National Bureau of Statistics (NBS).

Besides the recovering industrial output, the purchasing managers index (PMI) for China's non-manufacturing sector increased for a third consecutive month to reach 55.6 percent in November, the NBS said. A PMI reading of 50 percent demarcates expansion from contraction.

Due to the tough global economic condition this year, the Chinese government scaled down its growth target to 7.5 percent in March.

It was the first time in eight years the country has targeted economic growth below 8 percent, but analysts agreed China's yearly GDP growth will be between 7.5 percent and 8 percent this year.

In a latest report, the State Information Center, a government think tank affiliated to the National Development and Reform Commission, predicts China's GDP will expand 7.7 percent this year and 8 percent for 2013.

Source:Xinhua 
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