Core Sector Growth Slows to nine-Month Low at 0.7%
New Delhi, June 21 -- Annual growth in eight key infrastructure sectors, as measured by the combined Index of Eight Core Industries (ICI), fell to a nine-month low in May, according to data released by the ministry of commerce and industry on Friday.
The May reading came in at 0.7%, down from 1% in April. On a month-on-month basis, the index grew by 3.7%. The eight sectors counted in the index are coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity. They comprise 40.3% of the weight of items included in the Index of Industrial Production (IIP).
Growth in refinery products, which has the highest weightage of 28% in the index, was 1.1%, compared to a contraction of 4.5% in April. Steel, having a weight...
To read the full article or to get the complete feed from this publication, please
Contact Us.