China's power generation expanded 4.8 percent in July from a year earlier, the National Bureau of Statistics (NBS) said in Beijing today. Volume had declined in year-on-year terms for eight consecutive months beginning in October last year. Meanwhile, Dr. Norbert Walter, chief economist of Deutsche Bank - - Germany's biggest  - - says that the current recession has bred profound uncertainty, also among economists. While electricity consumption has hitherto been considered a reliable indicator of macroeconomic growth, the example of China shows that what at first glance seems to be an obvious correlation may prove to be fallacious on closer inspection. The already widespread insecurity in this unprecedented crisis thus continues to intensify.