Core sector growth rises to 5.4% in July
NEW DELHI: Core sector grew 5.4% in July, compared with 3.2% a year ago, official data released on Thursday showed. Sequentially, the growth marked a slowdown from an upwardly revised figure of 6% in June. The new series, with revised base year 2022-23 launched last month, covers nine infrastructure industries.Output in the infrastructure industries though decelerated when compared to June, showed resilience in July, while output in energy dominant industries, barring coal, remained subdued, reflecting the impact of renewal of hostilities in West Asia.Output in the cement sector accelerated 13.1% during July, reflecting sustained capex push by govt. Electricity generation decelerated, yet remained resilient (9%) on the back of a sustained heat wave and low monsoon rainfall. Output in the newly added iron ore industry decelerated, though remained robust (29.5%), while output in the steel industry grew 2.9%.
