Core sector growth slows to 3.8% in May

Our Bureau Updated - March 12, 2018 at 12:44 PM.

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The country’s economic prospects seem to be looking up as infrastructure sector grew by 3.8 per cent in May. In April, it had clocked a dismal 2.2 per cent.

The infrastructure sector had grown 5.8 per cent in May 2011. The core industries weigh 37.9 per cent weight in the Index of Industrial Production (IIP).

According to the data released by the Commerce and Industry Ministry, cement and coal production grew 11.3 per cent and eight per cent, respectively, up from (-) 1.2 per cent and 1.3 per cent in May last year.

However, sluggishness was apparent in sectors like crude, oil, natural gas and fertilisers, reflective of a slowing economy.

Natural gas and fertiliser output contracted by 10.8 per cent and 15.1 per cent, respectively. Crude oil and petroleum refinery output slowed to 0.5 per cent and 2.9 per cent in May, against 9.8 per cent and 4.5 per cent in May last year.

Electricity generation and steel production, too, dipped to 5.2 per cent and 4.9 per cent in the month under review from 10.3 per cent and 8 per cent in the year-ago period.

heena.k@thehindu.co.in

Published on June 29, 2012 10:47