This page has been archived and commenting is disabled.
Chinese Power Consumption Collapses: Economic Growth Slowest Since Early 2009
Not much to add here. If there still is any confusion why China is desperately manipulating its economic data, so balatantly in fact that virtually everyone has now noticed, this chart should put all doubt to rest. According to CLSA's Chris Wood using NEA data, China's monthly power consumption (the most accurate proxy for underlying economic strength according to the current premier) growth slowed from 5.5% YoY in Jan-Feb 2013 to 1.9% YoY in March, the slowest growth rate since May 2009 (as discussed in-depth here).
And just to make CNBC's life easier, we will prespin this data: the lack of growth merely shows there is much pent up growth on the sidelines, even if the country is now injecting more debt to just maintain the flatline, than ever.
- 23963 reads
- Printer-friendly version
- Send to friend
- advertisements -




My understanding is that even the Chinese power consumption figures are manipulated (upward I presume).
<Why would they not be since they are seen as such an excellent "tell" of what's really going on in China?>
You cant spend on power, what you spend on gold!
Perhaps a better metric to use would be the roadside nightsoil deposition rate per capita.
But who will burn the new cheap coal now that Euro policy is to run down its coal plants ?
they can follow the current u.s. calculations on gdp "growth".....the chinese can just "promise" to consume and all will be well.......................
The giant global Barbell economy with a nat gas weight in the west and coal in the east is imploding.
Coal (australian coal ?) needs to come back to Europe especially.
Just thought I should mention that this Spring has been the coolest I can remember out here in the last ten years. And happily, my electric bills have been halved.
Dang it; you just uncorrapsed the corrapsed. That ain't corr, you know.
It's Global Warming, ask Al Gore, he'll explain it to you.
WB7.
Same observation here in CT. I wonder how the midwest is doing with the planting?
They aren't planting yet.
They're face planting
===================
Interesting. Can you give us your location, e.g., city & state?
======================
The IEA energy policy advice has been a complete disaster................
Only now like a bunch of fucking weasels - are they coming out and saying we made a mistake !!!!!!!!!!!!!!!
http://www.iea.org/newsroomandevents/news/2013/may/name,37375,en.html
Any Dork with a brain could have told them whats what years ago.
The IEA is run by a bunch of bankers who are only concerned with the profits from global wage arbitrage.
Its a chinese chart you have to read it from right to left. Its actually climbing. /s
Hope thats not racist. If it is tough shit.
That 1929 moment?
Just like US power consumption. Hmmm. I am seeing a pattern. It is called global collapse.
Printing your way to GDP growth is far more energy efficient and friendly for the environment. The Chinese should be commended for following western best practices and for making the world a better place for all humanity to live and prosper.
-Ministry of Truth
Same type of stuff happening here in the US on the demand side, but who cares, Teem Mom 3 is starting soon.
http://www.eia.gov/electricity/annual/html/epa_08_07_a.html
no POMO no problem
Does anyone have any comments on the roundtrip(s) in oil over the last couple of days? Substantial selling at the open only to be bid up throughout the day. Inquiring minds (read: shorts) want to know.
I guessing that Chinese are using the Honda portable generators that run on coal. Hence, skewness in data.
Maybe they've all gone solar and stopped consumer power off the grid. :-)
Wow, I saw on TV last night they're (Chicomgovt) subsidizing electric cars by 50%, even a tiny number of cars uses a ton o juice,
Looks like Zerohedge has gone to political speak.
Chinese Power Consumption Collapses: INCREASES 5%
that's like "Saving" money by increasing spending by less than previously planned. We "Cut" the deficit by only increasing the deficit half as much as previously expected. I increased my income by spending less.
Chinese Power Consumption Growth Goes Horizontal doesn't have quite the same level of sensationalism, I guess.
In China the growth in electricity usage is bigger than the growth in GDP given their still exploding urban population. This means that their GDP is flat at the best...
Smoking gun
Which government is more of a blatant Liar...USA or CHINA?
Why do all sorts of macro indicators have this shape and trend over the same interval?
Just wait until they start Bitcoin mining. Power consumption might go up.
if the chinese are installing a lot of solar PV is that why growth for Electricity consumption is stalling?