Core grows 3.4% in Oct
Core infrastructure industries grew by a sluggish 3.4% in October, belying hopes of a revival that were sparked with a 5.1% growth in the previous month.
By ET Bureau |
NEW DELHI: Core infrastructure industries grew by a sluggish 3.4% in October, belying hopes of a revival that were sparked with a 5.1% growth in the previous month.
Output of steel and crude oil in October shrank compared to the year-ago period but production of coal, electricity and petroleum products outpaced the expansion in 2007, according to the government data. Cement output grew by a healthy 6.2%, but slower than the 7.5% recorded in October 2007.
Steel was the worst performer among the six core infrastructure industries, which have a weight of 26.7% in the overall industrial production index. Steel output fell 0.5% compared to the 5.2% growth in October 2007, while crude oil production slipped 0.3% from a shrinkage of 0.1% in the year-ago period.
Coal production was up 10.9% in October 2008 against 8.9% a year ago and electricity generation rose 4.4% from 4.2%,
according to provisional data. The output of petroleum products nearly doubled to 5% from 2.7%.
The 5.1% expansion in September was being seen as happy augury after the infrastructure industries grew by an anaemic 2.3% in August. In October 2007, the rate of expansion was 4.6%. Output growth by the six core sectors during April-October this year also slowed, to 3.9% from 6.6%.
Output of steel and crude oil in October shrank compared to the year-ago period but production of coal, electricity and petroleum products outpaced the expansion in 2007, according to the government data. Cement output grew by a healthy 6.2%, but slower than the 7.5% recorded in October 2007.
Steel was the worst performer among the six core infrastructure industries, which have a weight of 26.7% in the overall industrial production index. Steel output fell 0.5% compared to the 5.2% growth in October 2007, while crude oil production slipped 0.3% from a shrinkage of 0.1% in the year-ago period.
Coal production was up 10.9% in October 2008 against 8.9% a year ago and electricity generation rose 4.4% from 4.2%,
according to provisional data. The output of petroleum products nearly doubled to 5% from 2.7%.
The 5.1% expansion in September was being seen as happy augury after the infrastructure industries grew by an anaemic 2.3% in August. In October 2007, the rate of expansion was 4.6%. Output growth by the six core sectors during April-October this year also slowed, to 3.9% from 6.6%.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
