Core sector growth slows to 2.7% in July

ENS Economic Bureau | New Delhi | September 2, 2014 1:17 am

 

 

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Growth of eight core sector industries remained flat during the April-July period at 4.1 per cent.

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After recording an impressive performance in June, growth rate of key infrastructure industries slowed down to 2.7 per cent in July, dragged down by crude oil, steel, fertiliser and refinery products. It had grown 7.3 per cent in the previous month — the highest since January 2014.

According to the data released by the ministry of commerce and industry, the growth of eight core sector industries remained flat during the April-July period at 4.1 per cent compared to the corresponding period in 2013-14.

The eight industries include coal, crude oil, refinery products, natural gas, fertiliser, steel, cement and electricity. The core sector, which has a combined weight of about 38 per cent in the Index of Industrial Production (IIP), stood at 5.3 per cent in July 2013. During the month, cement production was the only sector which performed well, growing 16.5 per cent compared to a growth of 13.6 per cent in June.