Core sector clocks recorded strong growth of 6.7% in June

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NEW DELHI: Driven by an expansion in cement, refinery and coal production, the infrastructure sector reached its highest level in seven months, at 6.7% in June, official data revealed on Tuesday. .

The core sector grew by 4.3% in May 2018 and 1% in June of last year. The eight infrastructure sectors that are coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity account for 40.27% of the total. total industrial production.

Higher growth could provide an elevator to industrial production that slowed to a seven-month low of 3.2% in May.

"The recovery in the growth of basic industries, auto production and exports of non-oil products is expected to accelerate the pace of industrial expansion to about 6% in June, driven by manufacturing and manufacturing. 39, electricity, "said Aditi Nayar, senior economist at ICRA.

5 "title =" 5 "/> <figcaption/> </figure> </p> <p> Madan Sabnavis, chief economist at CARE Ratings, attributes growth to a weak base effect since the goods and services tax was introduced on July 1 of last year and the current year was a year. overall industrial activity has been slow. </p> <p> Sabnavis expects industrial production to exceed 5% in June. Core sector growth for May 2018 has been revised upwards from 3.6% to 4.3% and is also expected to increase overall IIP growth for this month as well as 3.2% initially estimated. </p> <p> Cement, refinery products and coal production increased by 13.2%, 12% and 11.5% year-on-year, respectively. Crude oil and natural gas production decreased by 3.4% and 2.7% respectively in June. </p> <p> The increase in electricity production was 4% in June compared to 2.2% in the same month last year. </p> <p> Steel production, however, grew at a slower pace of 4.4% compared with 6% in June 2017. </p> <p> Fertilizer production slowed to 1% from 8.4% in May, but rose sharply from a 2.7% drop in June 2017. </p> <p><figure clbad= Basic data "title =" Basic data "/> <figcaption/></figure> <p></p> </div> <p><script></p> <p> if (geolocation && geolocation! = 5) { ! function (f, b, e, v, n, t, s) {if (f.fbq) returns; n = f.fbq = function () {n.callMethod? n.callMethod.apply (n, arguments): n.queue.push (arguments)}; if (! f._fbq) f._fbq = n; n.push = n; n.loaded =! 0; n.version = 2.0 & # 39 ;; n.queue = []; t = b.createElement (e); t.async =! 0; t.src = v; s = b.getElementsByTagName (e) [0]; s.parentNode.insertBefore (t, s)} (window, document, & quot; script & # 39; & # 39; https: //connect.facebook.net/en_US/fbevents.js&#39;); fbq (& # 39 ;, & # 39; 338698809636220 & # 39;); fbq ("track", "Pageview"); }</p> <p></script></pre> </pre> [ad_2] <br /><a href=Source link

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