Thursday, July 10, 2008

Infrastructure Growth Declines To 3.5PC - July 10, 2008

Poor growth rate in electricity generation joined with petroleum refinery products production becoming almost stagnant, the overall index for six infrastructure industries grew by 3.5 per cent in May 2008 as against 7.8 per cent in May last year. Electricity sector, which takes 10.17 per cent weight in the Index for Industrial Production (IIP), highest among the six core sector industries which together take a weight of 26.68 per cent in the IIP, has recorded a growth of 2 per cent in May this year as against 9.3 per cent in the same month last year. The growth in petroleum refinery production became almost stagnant with a 0.1 per cent output growth as compared with 14.9 per cent in May last year.

The growth rate in the cement sector also declined during the month to 3.8 per cent from 9.9 per cent in the same month last year, while finished steel production grew by 5.2 per cent as against 8.4 per cent in May last year. For the first two months of the current fiscal April and May the overall growth of the core sector index stood at 3.5 per cent as against 6.9 per cent in May last year.

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