Eight core sector growth slows to 3-month low of 1.1% in July

Zee Media Bureau

New Delhi: Growth of the eight core industries slowed to a three month low of 1.1 percent in July as compared to the 3.1 percent in the same period a year ago, government showed Monday.

Its accumulative growth during April to July, 2015-16 stood at 2.1 percent.

In July of 2014, the core sectors had grown by 3.1 percent, which was the highest in 4 months during the period.

The eight sectors contribute 38 percent to the overall industrial production, a parameter that the Reserve Bank takes into account while framing its monetary policy.

Coal production increased by 0.3 percent in July, 2015 over July, 2014 . Its cumulative index during April to June, 2015-16 increased by 5.7 percent over corresponding period of previous year.

Petroleum Refinery production increased by  2.9 percent. Its cumulative index during April to June, 2015-16 increased by 3.9 percent over the corresponding period of previous year.

Crude oil production, natural gas and steel production declined by 0.4 percent, 4.4 percent and 2.6 percent respectively while that of fertilizerl and cement increased by 8.6 percent and 1.3 percent in July.