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Core sector growth slows down to 5-month low of 3.4% in January

LiveMint logoLiveMint 28-02-2017 PTI

New Delhi: The growth of eight core sectors slowed down to a five-month low of 3.4% in January mainly due to contraction in output of refinery products, fertiliser and cement.

The growth rate of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 5.7% in January 2016.

Infrastructure sectors’ expansion in January this year is the lowest since August 2016, when the segments had recorded a growth of 3.2%. It is also lower than that of 5.6% seen in December 2016.

The core sectors, which contribute 38% to the total industrial production, expanded 4.8% in April - January this fiscal compared to 2.9% growth in the same period previous financial year, according to the data released by the commerce and industry ministry today.

The output of refinery products, fertiliser and cement contracted by 1.5%, 1.6% and 13.3%, respectively during the month under review. Both coal and electricity expanded at 4.8% in January as against 7.9% and 11.6% expansion respectively in January 2016. However, crude oil, natural gas and steel output reported positive growth.

Crude oil output grew by 1.3% in January 2017 against 4.7% contraction in the same month of previous year. Similarly, natural gas and steel output rose by 11.9% and 11.4% respectively during the month under review.

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