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Core sector growth slows to 4.8% in August
Business Standard··5d ago
India's nine core sectors grew 4.8 percent in August, down from a revised 5 percent in July, Commerce Ministry data showed on Monday. Iron ore growth fell to 5.5 percent from 29.5 percent, and coal contracted 3.8 percent after July gains. Electricity rose to 11.6 percent, a 27-month high. The index eased to 119.2 from 120.8.
Prism
What It Means For You
- A cooler core print feeds into later industrial production readings tracked by markets.
- Electricity's 30.9 percent weight limited how far the slowdown travelled.
- April-August growth is 4.3 percent, versus 2.4 percent a year earlier.
What's Happening
- Five of nine sectors expanded: cement, electricity, iron ore, steel and refinery products.
- Coal, natural gas, crude oil and fertilisers contracted.
- Iron ore's index dropped to 96.1 from 104.8 in July.
What Dragged the Index
- August is the third print under the new series with 2022-23 as base year.
- Iron ore was added when the basket expanded from eight sectors to nine.
- The overall index's sequential fall was 1.32 percent from July.
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