Growth in infrastructure industries like steel, coal, crude oil, electricity and petroleum and refinery products has dropped to 1.4 per cent in January this year from 3.6 per cent in the same month last year. The fall is on account of fragile performance of other sectors. Crude oil was the worst performer with decline in production by 8.1 per cent during January. Petroleum refinery products also declined by 2.6 per cent against a growth rate of 5.4 per cent in January 2008.
Analysts feel that this trend is likely to continue in view of the dismal show by almost all the sectors except the cement industry. It has not performed as badly as the manufacturing sector...weakness will continue. The economy may start picking up from the second half of 2009-10, CRISIL Principal Economist D K Joshi said.
Cement production grew by 8.3 per cent for the month under review against 5.6 per cent in January last year. For the April-January period this year, consolidated growth slipped to 3.2 per cent from 5.7 per cent a year ago. After contracting for the first time in 15 years in October, the index of industrial production (IIP) again crashed by two per cent in December against a growth rate of a whopping 8 per cent a year ago.
Analysts feel that this trend is likely to continue in view of the dismal show by almost all the sectors except the cement industry. It has not performed as badly as the manufacturing sector...weakness will continue. The economy may start picking up from the second half of 2009-10, CRISIL Principal Economist D K Joshi said.
Cement production grew by 8.3 per cent for the month under review against 5.6 per cent in January last year. For the April-January period this year, consolidated growth slipped to 3.2 per cent from 5.7 per cent a year ago. After contracting for the first time in 15 years in October, the index of industrial production (IIP) again crashed by two per cent in December against a growth rate of a whopping 8 per cent a year ago.
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