Business

Core sectors growth slows to 2.6% in Aug

PNS

Contraction in steel output resulted into slowing down of growth of eight core sectors to 2.6 per cent in August .

The expansion in eight infrastructure sectors, which contribute about 38 per cent to the overall industrial production, was 5.9 per cent in the same month last year.

The August output, however, was higher than the previous month when the core sectors had expanded by just 1.1 per cent.

According to the data released by the Commerce and Industry Ministry on Wednesday, the steel output in the month under review declined to 5.9 per cent as against a positive growth of 9.4 per cent in August 2014.

Coal, cement and electricity output slowed down to 0.4 per cent, 5.4 per cent and 5.6 per cent respectively during the last month as compared to 13.2 per cent, 10 per cent and 12.9 per cent.

However crude oil, natural gas, refinery products and fertilisers recorded healthy growth.

In March and April this year, the eight industries witnessed contraction of 0.1 per cent and 0.4 per cent respectively.