Growth of eight key infrastructure industries slipped to 3.8% due to poor performance of crude oil, electricity, steel and cement sectors.
Last reported low was 0.9% in Oct '22
For Dec 2022, the growth of the eight core sectors was 7.4%. The last time the growth was so bad was in Oct 2022, at 0.9%. The eight core sectors are cement, coal, crude oil, electricity, fertilisers, natural gas, refinery products and steel. The cumulative growth of the key sectors during Apr-Dec 2023 was flat at 8.1% versus 8% a year ago.
Industrial growth rate may slow down
* Crude oil production in Dec 2023 witnessed a decline of 1% compared to Dec 2022. The other seven sectors grew but at a slow pace. The eight core industries' numbers are significant as they carry a 40.27% weight in the Index of Industrial Production (IIP).
* Slow core sector growth means industrial growth may power down.
My take
Points to ponder!
Tailpiece.
Got up at 5, the chores and was ready by a half past 6.
To Rajah hospital to give Lekha's blood sample for assessing CRP value. On return, drew cash and bought fish for the cats.
Only Saiju and Sunil today and they finished the breaking up of the second toilet by the end of the day.
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