Growth of eight core sectors at 2.1% in July, down from 7.3% last year: Govt data

Growth of eight core industries slowed down to 2.1 per cent in July as against 7.3 per cent in the same month last year, according to a government data released Monday. According to the data, the output of coal, crude oil, natural gas and refinery products recorded negative growth in July.

The eight core sector industries – coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity – had expanded by 7.3 per cent in July last year. During April-July, the eight sectors grew by 3 per cent compared to 5.9 per cent in the same period the previous year.

These core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). Growth rate in production of steel, cement and electricity declined to 6.6 per cent, 7.9 per cent and 4.2 per cent, respectively, as against 6.9 per cent, 11.2 per cent and 6.7 per cent.…