Core sector output slows down to 4.5% in July
India’s eight core sectors’ output growth dropped to a six-month low of 4.5% in July from 13.2% in June, with crude oil and natural gas output declining from a year ago and growth in sectors like cement and electricity dropping to around 2%.
Overall output levels were 2.3% lower than June 2022 and the Index of eight core industries slipped to 140.7, the lowest level since this March. The Commerce and Industry Ministry also revised its estimates for core sectors’ growth in April to 9.5% from the provisional figure of 8.4%.
The production growth of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — was 11.5% in April-July this fiscal against 21.4% a year ago.
(With PTI inputs)