China’s State Electricity Regulatory Commission has published September data for electricity production.
Total electricity output for September was 394.488 billion kwh, which is a 2.2% increase compared to the same month a year ago according to our own calculation, down from +2.7% yoy in August. Growth of electricity output remained at low level in September without any noticeable pick-up seen throughout the third quarter.
The chart below shows the total electrical power output growth as GDP growth. The data suggest that economic activity has remained relatively weak throughout the third quarter:
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