8 core infrastructure industries grow by 3.1 per cent in July The eight core infrastructure industries grew by 3.1 per cent in July, the highest in the last four months. The core industries grew moderately mainly due to declining output of crude oil and natural gas. An official data released today said that the Eight Core Industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP). The release added that Petroleum refinery production expanded by 5.1 per cent in the month against 26 per cent in July 2012. Steel production grew by 7 per cent, while cement output was up by 0.8 per cent in July this year. Fertiliser output grew by 0.4 per cent in July. The growth rate in July this year, however, is lower than 4.5 per cent in the same month last year. Crude oil and natural gas production contracted by 2.3 per cent and 16.1 per cent. Coal and electricity production also slowed down by 1.2 per cent and 5.2 per cent as against 2 per cent and 2.7 per cent in July 2012.
Posted on: Tue, 03 Sep 2013 01:46:04 +0000
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