Business Economy

Core sector growth slows to 0.2% in June

Growth of eight core industries dropped to 0.2% in June mainly due to a contraction in oil-related sectors as well as in cement production, according to official data.

The eight core sector industries viz. coal, crude oil, natural gas, refinery products, fertilizer, steel, cement and electricity had expanded by 7.8% in June last year.

According to the data released by the government, crude oil output contracted by 6.8% while the refinery segment de-grew by 9.3%.

Cement output declined by 1.5%. Fertiliser production was also in the negative zone.

Steel and electricity production, however, increased by 6.9% and 7.3%, respectively, during the month under review.

During April-June, the eight sectors grew by 3.5% compared with 5.5% in the same period last year.

Source: thehindu.com

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