Data from China today showed electricity consumption jumped in February and COVID further eased and holidays ended.
Power usage is regarded as a key indicator of economic activity.
Total February power use in China +11% y/y
- electricity consumed by the secondary industry +19.7% y/y
- consumption in the primary and tertiary industries +8.6% and +4.4% y/y, respectively
- residential power consumption-9.2% y/y
For the two months January & February power use +2.3% y/y
Data from China's National Energy Administration