India’s core-sector growth was 1.4% in February, the slowest it has been in 16 months. The slowdown is most marked in the finished steel, natural gas, crude oil and refinery sectors, while cement, coal and electricity were up.
Steel output contracted 4.4% y/y, crude output was down 1.9%, natural gas fell 8.1% and refinery products were down 1.0%. On the positive side, coal output grew 11.6%, up from 1.7% in January, and electricity production increased by 5.2%. The cement sector grew by 2.7% y/y and achieved cumulative growth from April 2014 to February 2015 of 6.1%.
At 3.8%, overall core sector growth between April 2014 and February 2015 was lower than the 4.2% achieved in the April 2013 to February 2014 period. The government is forecasting GDP growth for FY15 of 7.4%.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/01042015/india-cement-sector-output-up-2-7-percent-in-february-623/