India's core sector output growth slips to nine-month low in August

The Reserve Bank of India (RBI) on Friday pared its growth forecast for FY23 to 7 per cent from 7.2 per cent estimated earlier

The eight infrastructure industries that comprise the core sector grew at the slowest pace in nine months at 3.3 per cent in August. This is owing to a higher base and deceleration in output growth of steel and electricity.

Data released by the industry department showed output growth of refinery products (7 per cent), fertilisers (11.9 per cent) and cement (1.8 per cent) accelerated compared to the preceding month. Those that decelerated sharply include production of coal (7.6 per cent), steel (2.2 per cent) and electricity (0.9 per cent). Crude oil (-3.3 per cent) and natural gas (-0.9 per cent)