Core sector growth slows to 2.7% in July

The output expanded an annual 7.3% in June, its fastest pace in nine months

Negative growth in crude oil, natural gas, refinery products, fertilisers and steel has pulled down the growth of the eight core industries to 2.7% in July.

Growth in the infrastructure sector, which has a combined weight of about 38% in the Index of Industrial Production (IIP), stood at 5.3% in July 2013.

Crude oil, natural gas, refinery products, fertilisers and steel recorded a negative growth of 1%, 9%, 5.5%, 4.2% and 3.4%, respectively in July, according to the data of the Commerce and Industry Ministry.

However, coal, cement and electricity production grew by 6.2%, 16.5% and 11.2%, respectively during the month under review.

During April-July, growth in the eight core industries grew by 4.1% from 4.1% in the year-ago period.

Led by healthy growth in cement and electricity, the eight core industries grew to a nine- month high of 7.3% in June.