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China electricity use down in April: report
Shanghai (AFP) May 17, 2009 China's electricity consumption fell 3.6 percent year on year in April, a larger drop than in March, the latest sign an economic recovery has yet to take hold, state media reported Sunday. The industrial sector consumes about 70 percent of the power in China, according to the report by the official Xinhua news agency, and the decline is inconsistent with data indicating industrial activity has been expanding. Power consumption was down 2.0 percent year on year in March, the report said, citing figures from the China Electricity Council. Industrial output -- a main gauge of activity in plants across China -- rose 7.3 percent last month from a year earlier, the National Bureau of Statistics said last week, down from 8.3 percent growth in March. Share This Article With Planet Earth
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Hong Kong economy shrinks 7.8 percent in Q1Hong Kong (AFP) May 15, 2009 Hong Kong said Friday it now expects the local economy to contract more this year than earlier forecast, after gross domestic product tumbled at its fastest rate in a decade in the first quarter. GDP in the January-March period plunged 7.8 percent from a year earlier, worse than the previous quarter's 2.6 percent contraction. It was the biggest year-on-year decline since the third quart ... read more |
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