Core sector running out of steam - The New Indian Express

The growth in infrastructure industries dropped to 2.3 per cent in May coming at the back of slowdown in crude oil, natural gas, coal and fertiliser output. The eight infrastructure industries had grown at 7.2 per cent in the corresponding period last year. According to the official data released by the government on Monday, the combined index of these industries - coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity - was 159.2 in May this year. "The decline in the growth rate in May was mainly on account of negative growth witnessed in the production of coal, crude oil, natural gas and fertiliser," the Ministry of Commerce and Industry said in a statement. Production of coal, crude oil, natural gas and fertiliser shrunk to 3.3 per cent, 2.4 per cent, 18.7 per cent and 2 per cent respectively. The combined weight of the eight core sector industries is 37.90 per cent. Production of petroleum refinery products grew at 5 per cent which is still slow as against expansion of 23.4 per cent in the same period last year. Steel production expanded by 4.1 per cent compared to 3.8 per cent while cement production increased by a mere 3 per cent compared to 15.4 per cent last year. Electricity generation was 6.2 per cent as compared to 5.9 per cent in the same period in 2012. The growth in infrastructure industries was 3.2 per cent in 2012-13 compared to 5 per cent in 2011-12. via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHhQLxKZkb_72-pB3eJnpozWhUJmg&url=http://newindianexpress.com/business/news/Core-sector-running-out-of-steam/2013/07/02/article1663047.ece

Put the internet to work for you. via Personal Recipe 2910127