Eight Core Industries Grew By 4% In June, Lowest Since November 2022
The index of eight core industries gained 4% in June, as compared to 6.4% in May on an annual basis.
India's eight core infrastructure industries rose in June, but at a slower pace.
The index of eight core industries gained 4% in June, as compared to 6.4% in May, on an annual basis, according to data released by the government on Wednesday. It is the lowest since November 2022.
The core sector expansion slid to a 20-month low, led by a moderation in growth or deepening contraction in five of the eight constituents, barring coal, fertilisers and cement, as compared to May 2024, said Aditi Nayar, chief economist at ICRA. "With the dip in the core sector growth, we expect the IIP to post a rise of 3.5-5.0% in June 2024."
Break-Up Across Eight Core Sectors In June (YoY)
Coal output rose 14.8% versus 10.2% in May.
Crude oil output declined 2.6% as against 1.1% last month.
Natural gas output increased 3.3% versus 7.5% in May.
Petroleum refinery products fell 0.5%, as against a rise of 0.5% in the previous month.
Fertiliser production rose 2.4% versus a decline of 1.7%.
Steel output rose 2.7% versus 6.8% in May.
Cement output rose 1.9% versus -0.6% in the last month.
Electricity output rose 7.7% as compared with 13.7% in the previous month.
