labels: Industry - general
Core sector growth slips to 4.3 per cent in July news
10 September 2008

Mumbai: Six core sector industries saw growth decline to 4.3 per cent in July from 7.2 per cent a year ago, though better compared to the month-ago figure of 3.4 per cent.

For the April-July period, the core sector industries logged a sluggish growth of 3.7 per cent against 6.6 per cent in the corresponding period last year, official data released today showed.

Crude oil was the worst performer, with a negative growth of three per cent in July this year compared to a growth rate of 0.9 per cent in the same month last fiscal. Petroleum refinery products, however, posted a sterling growth of 11.8 per cent.

Growth in finished steel production was lower at 1.9 per cent during July 2008 against 10.8 per cent in the same month the previous year. In the April-July period, steel production grew by 6.5 per cent as compared to 7.7 per cent during the same period last year.

Coal production grew at 5.5 per cent (provisional) in July, against 1.1 per cent in the last corresponding month, and clocked 7.7 per cent growth during April-July of the current fiscal.

The provisional growth in electricity generation was also sluggish at 4.5 per cent compared to 7.5 per cent last July.

Cement production grew at an estimated 8.8 per cent in July, slightly lower than 9.4 per cent in July 2007.

The core sector industries carry a weight of 26.68 per cent in the index of industrial production and could in turn further dampen economic growth this fiscal, which has now been pegged at 7.7 per cent.


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Core sector growth slips to 4.3 per cent in July