Slowed Down: Core Sectors Production Growth Dips to 4% in June

Production growth of eight key infrastructure sectors slowed to 4% in June, driven by declines in crude oil and refinery products. This marks a drop from 6.4% in May 2024 and 8.4% in June 2023. Core sectors showed a lower growth rate during April-June this fiscal compared to the previous year.

Production growth of eight key infrastructure sectors slowed to 4 per cent in June this year, a significant decline driven by reduced output in crude oil and refinery products, official data released on Wednesday revealed.

In contrast, the core sectors' production had grown by 6.4 per cent in May 2024. The sectors include coal, crude oil, natural gas, refinery products, fertilizer, steel, cement, and electricity, which collectively had an 8.4 per cent growth rate in June 2023.

During April-June this fiscal year, the output of these sectors rose by 5.7 per cent, down from 6 per cent in the same period last fiscal year. Notably, the eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP), which measures overall industrial growth.