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Core sector growth slows down to four-month low in September

November 1, 2018

Growth in eight infrastructure sectors stood at 4.3 percent in September, the lowest in the last four months.

The slowdown is likely to impact industrial production growth in the month as the core sector has 40.27 percent weightage in the Index of Industrial Production (IIP).

The eight infrastructure sectors comprises of coal, crude oil, fertilisers, steel, natural gas, refinery products, cement and electricity.

The output of crude oil and natural gas dipped by 4.2 percent and 1.8 percent respectively. Coal, refinery products and steel recorded a decline of 6.4 percent, 2.5 percent and 3.2 percent, respectively.

However, the output of fertiliser, cement and electricity grew by 2.5 percent, 11.8 percent and 8.2 percent, respectively.

India’s economic growth rate stood at 8.2 percent in the first quarter of 2018-19. The slowdown remains a cause of concern as the government would want to surpass the target of 7.5 percent set for the current financial year.

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