Country’s electricity supply dropped for fifth month in a row in December, amid sluggish industrial activity led by the economic slowdown. The power supply for December was recorded at 1.1 percent down, bringing the count from 103.04 billion units last year to 101.92 billion units, an analysis of state-run Power System Operation Corp Ltd (POSOCO) showed.
The drop in electricity supply for previous months November and October was recorded at 4.2 per cent and 12.8 per cent respectively according to a reuters report.
Experts believe that the electricity supply or its demand represents the industrial output and continuous slip in it shows further slowdown.
According to the government data, the annual consumption of electricity by industry accounts for more than two-fifths of the country’s annual electricity consumption, according to government data, a Reuters report stated.
Government’s July-September quarter data showed that economic growth descended to 4.5 per cent, the weakest since 2013. It led to fall in sales of products, resulting to big corporations to minimize their working days and slashing jobs.
(With input from agencies)