Data Alert
Core industries growth at 20-month low of 4.0% in June
This story was originally published at 20:19 IST on 31 July 2024
Register to read our real-time news.Informist, Wednesday, Jul 31, 2024
--India Jun eight core industries' growth at 4.0% vs 6.4% in May
--India Apr-Jun eight core industries' growth 5.7% vs 6.0% year ago
NEW DELHI – The growth in the output of India's eight core industries fell to a 20-month low of 4.0% in June from a revised print of 6.4% in May, according to data released today by the Office of the Economic Adviser. The output of eight core industries, which accounts for 40.3% of the total weight of the Index of Industrial Production, had grown 8.4% in June last year.
The moderation in growth was broad-based, with growth in output falling in five of the eight core industries in June compared to May. The output of refinery products, which has the highest weight in the eight core sectors at 28.04%, contracted 1.5% in June against a growth of 0.5% in the previous month.
The output in electricity grew 7.7% in June, slower than 13.7% in May. Growth in the output of steel was also slower in June at 2.7% compared to 6.8% in May. Natural gas output grew 3.3% in June, lower than 7.5% in May.
Coal, fertilisers, and cement were the three sectors whose output grew faster in June than in May. Coal sector output rose 14.8% in June compared with 10.2% in May. Output of fertiliser sector grew 2.4% last month against a contraction of 1.7% in May. Growth in output of cement sector was 1.9% in June, compared to a contraction of 0.6% in May.
For the quarter ended June, the output of the eight core industries rose 5.7%, compared with 6.0% last year.
"A tepid year-on-year growth in core sector is expected to have a moderating impact on the growth of the IIP (Index of Industrial Production) as well in June 2024," India Ratings and Research said in a note. It expects IIP growth to moderate to 3-4% in June from 5.9% in May.
The following tables give the year-on-year percentage change in output of the eight infrastructure industries in June and Apr-Jun, and the month-on-month change in the indices of the industries in June:
| June | May | June | |
| 2024 | 2024 | 2023 | |
| Coal | 14.8 | 10.2 | 9.8 |
| Crude oil | (-)2.6 | (-)1.1 | (-)0.6 |
| Natural gas | 3.3 | 7.5 | 3.5 |
| Refinery products | (-)1.5 | 0.5 | 4.6 |
| Fertilisers | 2.4 | (-)1.7 | 3.4 |
| Steel | 2.7 | 6.8 | 21.3 |
| Cement | 1.9 | (-)0.6 | 9.9 |
| Electricity | 7.7 | 13.7 | 4.2 |
| Overall | 4.0 | 6.4 | 8.4 |
| Index for June 2024 | Index for May 2024 | Month-on-Month Change (in %) | |
| Coal | 186.4 | 184.7 | 0.9 |
| Crude oil | 74.4 | 77.9 | (-)4.5 |
| Natural Gas | 75.8 | 78.7 | (-)3.7 |
| Refinery products | 134.1 | 141.8 | (-)5.4 |
| Fertilisers | 134.0 | 135.9 | (-)1.4 |
| Steel | 197.1 | 205.5 | (-)4.1 |
| Cement | 198.7 | 190.6 | 4.2 |
| Electricity | 221.0 | 229.3 | (-)3.6 |
| Overall | 162.1 | 167.4 | (-)3.2 |
| Apr-Jun | Apr-Jun | |
| 2024-25 | 2023-24 | |
| Coal | 10.8 | 8.7 |
| Crude oil | (-)0.7 | (-)2.0 |
| Natural Gas | 6.4 | 0.1 |
| Refinery products | 0.9 | 1.9 |
| Fertilisers | 0.0 | 11.2 |
| Steel | 6.1 | 16.5 |
| Cement | 0.3 | 12.7 |
| Electricity | 10.5 | 1.3 |
| Overall | 5.7 | 6.0 |
Source: Ministry of Commerce and Industry
End
Reported by Shubham Rana
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2024. All rights reserved.
To read more please subscribe
Share this Story:
