Slowdown signs - China power output sinks 3.9%YoY

Interfax-China reported that China's power output dropped by 3.9% in the first 10 days of May when compared with the same period a year ago.

According to figures from the National Bureau of Statistics, power output weakened when compared with YoY drop for the first 10 days of April during which China's power output sank by 3.55%.

State-run newspaper China Securities Journal cited State Grid Corp., China's largest power grid operator as saying that Power output in the industrial hub of Guangdong Province in southern China over the first 10 days remained disappointing.

It said power output in some parts of China, such as the Guangxi Zhuang Autonomous Region, Hebei Province and Henan Province, improved on an annual basis in the first 10 days of May due to the resumption of production by some local alumina smelters and steel mills.

Mr Zhang Yanbing power industry analyst from Zheshang Securities told Interfax that "The statistics released today indicate that economic recovery in China has not yet taken off. Industrial production is still being affected by the global financial crisis, which is lowering power output."

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