Growth of key infrastructure industries slowed down in October to 3.4 per cent from 4.6 per cent a year ago mainly on account of drop in production of steel and crude oil. The growth in the six core industries crude oil, petroleum and refinery products, coal, electricity, cement and finished steel contracted for the April-October period to 3.9 per cent from 6.6 per cent in the same period last year.
A day before the Index for Industrial Production data would be released, government released the core sector data, having a weight of 26.7 per cent on the overall industrial production. After dipping to 2.3 per cent in August, the growth in these industries improved to 5.1 per cent in September, raising hopes of a revival in the industrial growth. However, performance in October belied hopes as the rate of expansion dropped to 3.4 per cent.
The crude oil production remained in the negative territory showing a decline of 0.3 per cent in October. Reeling under the demand recession, steel took the hit and registered a negative trend of 0.5 per cent. However, petroleum refinery products followed the reverse trend by expanding by five per cent against 2.7 per cent. Cement production dropped to 6.2 per cent against 7.5 per cent in the period. However, coal showed an improvement at 10.9 per cent against 8.9 per cent. Electricity also put up an improved performance of 4.4 per cent as compared to 4.2 per cent.
A day before the Index for Industrial Production data would be released, government released the core sector data, having a weight of 26.7 per cent on the overall industrial production. After dipping to 2.3 per cent in August, the growth in these industries improved to 5.1 per cent in September, raising hopes of a revival in the industrial growth. However, performance in October belied hopes as the rate of expansion dropped to 3.4 per cent.
The crude oil production remained in the negative territory showing a decline of 0.3 per cent in October. Reeling under the demand recession, steel took the hit and registered a negative trend of 0.5 per cent. However, petroleum refinery products followed the reverse trend by expanding by five per cent against 2.7 per cent. Cement production dropped to 6.2 per cent against 7.5 per cent in the period. However, coal showed an improvement at 10.9 per cent against 8.9 per cent. Electricity also put up an improved performance of 4.4 per cent as compared to 4.2 per cent.
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