China power output surged in December

Power output in China surged last month due to economic expansion and a cold snap, the South China Morning Post reported. Electricity generation in December leapt up 25.9% year-on-year, the strongest growth in a non-holiday month in the last 12 years. Over 70% of power generated in China is used by industry, and some observers say the figure is a more reliable indicator of economic expansion than recent GDP growth figures, which reported 10.7% GDP growth in the fourth quarter. Analysts expect power output to continue to grow vigorously in the first half of 2010. Citigroup projects an increase of 12% in 2010, while the China Electricity Council predicts 7% growth.