Core sector growth at 3.2% in July

Core sector growth at 3.2% in July

01/09/2016 13:00

India’s infrastructure sector grew at a weaker pace in July amid a dip in steel sector output, raising concerns over a slowdown in Asia’s third biggest economy which expanded at 7.1 per cent in the June quarter.

Output of the eight core industries which include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, expanded at 3.2 per cent in July 2016 from the same month a year ago, government data showed on Wednesday.

In June 2016, India’s infrastructure growth stood at 5.2 per cent, year-on-year.

The core sectors make up 38 per cent of the country’s overall industrial output and had grown by 1.3 per cent in July 2015, year -on-year.

Refinery production climbed 13.7 per cent in July 2016 from the year ago month while coal & natural gas output rose 5.1 per cent and 3.3 per cent, respectively.

However, the output in the steel sector shrank 0.5 per cent and electricity generation slowed in July compared to a year ago. Production in the cement industry rose by 1.4 per cent in July 2016 from the same month a year ago.

For the April-July 2016 period, cumulative core sector expansion stood at 4.9 per cent, the data showed.

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