India Core Sector Growth Hits 5% in June as Iron Ore Output Jumps 43.9%
Updated
Updated · Moneycontrol · Jul 20
India Core Sector Growth Hits 5% in June as Iron Ore Output Jumps 43.9%
3 articles · Updated · Moneycontrol · Jul 20
Summary
India’s core sector grew 5% in June, up from 3.2% in May and marking its fastest expansion since January.
Iron ore led the rebound with output surging 43.9% year on year, while electricity and cement each rose 9.8%, signaling stronger industrial and construction activity.
Coal returned to growth at 1.4% after a 9.5% contraction in May, and steel output rose 4.6%, helping lift April-June cumulative core sector growth to 3.6% from 1% a year earlier.
The recovery stayed uneven as refinery products fell 4.7%, crude oil dropped 4.2%, natural gas slid 7.4% and fertiliser output declined 3.3%.
June also debuted a revised core industries index with a 2022-23 base year, adding iron ore and expanding coverage to nine industries.