The output of eight core sectors of the Indian industry – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – declined 0.5% in August compared to the same month last year, data released by the Ministry of Commerce and Industry showed on Monday. These eight sectors have 40.27% of the weight of all sectors that figure in the monthly Index of Industrial Production data.
The core sectors had expanded 4.7% in August 2018. In July, the growth was 2.7%, much slower than the 7.3% growth in July 2017. The growth was 0.7% in June and 3.8% in May.
Production in five of the sectors – coal, crude oil, natural gas, cement and electricity – declined in August. The steel sector showed the best growth, of 5%, during the month, while coal performed the worst, declining 8.6%.
In the financial year so far – from April to August – the eight sectors grew 2.4%, compared to 5.7% in the same period last year. The base year used for calculations is 2011-’12.
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