Chinese electricity consumption tumbles; Chinese blame Spring Festival and bad economy

Chinese Electricity Consumption Fell Massively In January, And The Chinese New Year Doesn't Explain It
The Chinese disagree and say electricity consumption was up 3% in early January, which makes the Lunar New Year the culprit.

1月全社会用电量罕见负增长 增幅或为-7.5%
China Securities Journal reported on Wednesday quoted sources as saying that, in January this year, Chinese total electricity consumption year on year growth rate of about -7.5%, the accumulated growth rate of January-February is expected to only 5 - 6%. In previous years due to the approaching Spring Festival, the industrial production activities is not active, the total electricity consumption growth rate will decline, but negative growth is rare in recent years.
The Chinese are blaming an early Spring Festival and the weak economy. Spring Festival fell on January 23, 2012. It typically falls in February. However, it was also early on January 22, 2004 and on January 26, 2009, but of course 2009 was also the crisis year, which is why the report in English noted that this was the first decline since 2002 not including the 2008-2009 period.
Spring Festival factor is the main reason for negative growth. The source said that the Spring Festival this year in January, industrial production activities during the holiday downtime, electricity demand is less. In early January this year, electricity consumption year-on-year growth rate of about 3%, the mid and late growth rate dropped.
The first part of this next paragraph seems a bit nonsensical:
Since September 2010, around the different levels of restrictions on electricity, electricity consumption of a low base in the fourth quarter of 2010, resulting in demand for electricity in January last year, focused on the release of the month, the total electricity consumption increased by 10.1%. In addition, the national industrial economic growth is slowing down. Zhu Hongren, chief engineer of the Ministry of Industry, on the 7th, the first quarter of this year, industrial growth is likely to further slow down.
The first part is arguing that industrial production was low in Q4 2010 and then ramped up in January 2011 to make up some missed production. That doesn't sound credible.
It is noteworthy that the above sources, if continuous low temperature in February of this year, January-February total society as a whole consumption growth is expected to reach about 6%, but if the weather quickly warmed up to January-February, the accumulated growth rate of only about 5%. Data released by the National Energy Board, January-February last year, the cumulative total electricity consumption growth rate of 12.32%.

China Electricity Council expects that the society as a whole this year, electricity consumption growth will show a low to high trend annual growth rate of about 9.5%, the first two months of growth is likely to be only about 5%. Analysts said the higher annual growth rate is expected because the CEC is expected in the second half economic growth will pick up.
Total electricity growth of about 5-6% in the first two months, down from 12.3% in 2011. The last paragraph reiterates what we've seen in real estate articles: a slow down/decline in the first half of the year with growth picking up in the second half.

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