શુક્રવાર, 1 સપ્ટેમ્બર, 2017

Core sector records 2.4% growth in July


Core sector growth in July on a year-on-year (YoY) basis was just 2.4% due to a low base in sectors including steel and electricity.

The performance of eight core industries – which comprise 40.27 % of the weight of items included in the Index of Industrial Production (IIP) – in July 2017 was higher than 0.8% in June 2017, but lower than 3.1% recorded in July 2016. Its cumulative growth during April to July, 2017-18 was 2.5%.


The modest uptick in core sector growth in July 2017 relative to the previous month was driven by a favourable base effect for steel, cement, fertilizers and electricity. Nevertheless, half of the eight constituents recorded a YoY contraction in July 2017, namely, refinery products, crude oil, cement and fertilisers.

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