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Core sector growth slows down to 4.3%

September 11, 2008

Growth of core sector industries has slowed down to 4.3% in July compared to 7.2% during same month of the last fiscal. For the four month period of April-July 2008, growth was registered at 3.7% compared to 6.6% during the same period last year. The following chart shows the comparison between July-07 and July-08.
India Core Sector GrowthHowever, the growth in July was better than the average growth during the first three months of current fiscal. The main contributor to the growth was coal that grew at 5.5% compared to 1.1% last year. The only other industry to show greater growth on a year-on-year basis was petro products, which grew at 11.8% in July compared to 4.7% last year.

All other core sector industries registered a slower growth compared to July last year, with crude putting the worst show by posting a negative growth of 3% compared to 0.9% last year. Steel was another industry that disappointed with merely 1.9% growth compared to 10.8% last year.

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