Contraction in refinery products, coal, fertilisers decelerate India's output

A contraction in refinery products, coal, fertilisers and steel production decelerated India's eight major industries' output in August 2018.

According to the Ministry of Commerce & Industry on Monday, the Index of Eight Core Industries (ECI) showed a slower rise of 4.2 per cent from a growth of 7.3 per cent in July.

Even, on a year-on-year basis, August's growth was lower than the rise of 4.4 per cent reported for the corresponding period of the previous fiscal.

"The combined Index of Eight Core Industries stands at 128.1 in August 2018, which was 4.2 per cent higher as compared to the index of August 2017," the ministry said in a statement.

"Its cumulative growth during April to August 2018-19 was 5.5 per cent."

The ECI index represents major sectors like coal, steel, cement and electricity. It carries 40.27 per cent weightage of the Index of Industrial Production (IIP), which is the macro gauge for India's factory output.

(With inputs from agencies.)