Core sector growth slows to 2.7 pc in July

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Negative growth in crude oil, natural gas, refinery products, fertilisers and steel has pulled down the growth of the eight core industries to 2.7 per cent in July.

Growth in the infrastructure sector, which has a combined weight of about 38 per cent in the Index of Industrial Production (IIP), stood at 5.3 per cent in July 2013.

Crude oil, natural gas, refinery products, fertilisers and steel recorded a negative growth of 1 per cent, 9 per cent, 5.5 per cent, 4.2 per cent and 3.4 per cent, respectively in July, according to the data of the Commerce and Industry Ministry.

However, coal, cement and electricity production grew by 6.2 per cent, 16.5 per cent and 11.2 per cent, respectively during the month under review.

During April-July, growth in the eight core industries grew by 4.1 per cent from 4.1 per cent in the year-ago period.

Led by healthy growth in cement and electricity, the eight core industries grew to a nine- month high of 7.3 per cent in June.

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