China's power consumption to gain steam in Q4

BEIJING - Power consumption in China in the last quarter will grow faster and the whole year's consumption is likely to grow 6 percent, as the nation's economy stabilizes, the State Electricity Regulatory Commission (SERC) forecast Wednesday.

Official data showed that power consumption increased 6.1 percent year-on-year in October, accelerating by 3.2 percentage points from September.

An SERC statement said the country's electricity consumption, a barometer of economic activity, had seen slower growth during the year before picking up in October,

"China's economy has witnessed stronger signs of stabilization as its pro-growth policies gradually take effect," the commission said.

It added that consumption will grow faster in the last quarter and total electricity supply and demand will be balanced.

Power consumption in 2012 will grow by 6 percent from a year earlier to reach around 5 trillion kilowatt-hour, down from the 11.7-percent growth in 2011, the commission forecast.

The purchasing managers' index (PMI), the main gauge for factory production, rose to 50.2 percent in October from 49.8 percent in September. It comes above the 50-percent boom-or-bust line for the first time since July.