Growth in India’s core sector output decelerated to 6.3% in May, down from 6.7% in April, primarily due to reduced production in six key industries, including cement, fertilizers, and natural gas. Despite a 5.2% growth in May 2023, recent data shows natural gas (7.5%), refinery products (0.5%), and steel (7.6%) output slowed, while fertilizers (-1.7%) and cement (-0.8%) experienced further declines. Crude oil production dropped by 1.1%. However, coal and electricity sectors saw significant growth, with coal up 10.2% and electricity generation rising 12.8%.
India’s Core Sector Growth Slows to 6.3% in May
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