Eight Core Industries Production – May'16
India's core sector growth during May slowed to a five-month low, weighed by contraction in oil and natural gas output. The headline number was also dented by slowdown in steel and cement sectors. Electricity generation also slowed, when compared with April number. The production reading for eight core industries grew a meagre 2.8% (yoy), when compared with the growth of 8.5% during the prior month. Only fertiliser sector witnessed an impressive growth, up by 14.8%. Overall sluggishness in core sector activity suggests that IIP (Index of Industrial Production) reading will continue to languish, given that it contributes more than 1/3rd of the country's total industrial production.
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