Power consumption in eastern China's Zhejiang province rose slightly in the first quarter, reflecting the province's steady economic growth despite headwinds.
Electricity use in Zhejiang reached 129 TWh between January and March, up 0.63% from the same period last year, according to the State Grid Zhejiang Electric Power Company.
Growth accelerated to 17.71% in February and 6.67% in March as business activity resumed after the Lunar New Year holidays, indicating Zhejiang's economy is stabilizing and recovering.
Power demand from the primary industry, covering mainly agriculture, surged 22.62% in the first quarter to 5.5 GWh. The tertiary industry, dominated by services, saw consumption rise 6.66% to 22.48 TWh.
However, secondary industry consumption edged down 0.1% to 84.52 TWh due to sluggish manufacturing earlier this year. Residential demand also fell 1.76% to 21.44 TWh as milder temperatures curbed heating use.
Zhejiang's industry gradually emerged from the doldrums, with electricity consumption stabilizing in March after the tertiary industry drove tepid overall growth in January and February. Industrial power use rebounded in March, contributing 40.66% of total consumption growth.
Six of Zhejiang's 31 manufacturing sectors recorded new monthly power use highs in March. More than 80% of sectors posted rising consumption, signaling a broader recovery.
“Zhejiang's power figures point to an economy that is stabilizing and reviving, with the primary and tertiary industries spearheading the rebound while manufacturing plays catch-up,” said an analyst from the State Grid Zhejiang Economic Research Institute.
(Writing by Alex Guo Editing by Harry Huo)
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