October 1, 2014 8:30 AM

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Core Sector grows 5.8 % in August

Eight core industries grew by 5.8 per cent in August this year as against 4.7 per cent in the same month last year led by healthy growth in coal, cement and electricity sectors. According to data released by the Commerce and Industry Ministry, coal sector grew by 13.4 per cent, cement by 10.3 percent and electricity by 12.6 per cent in August.Steel production expanded by 9.1 per cent in August this year as against 8.1 per cent in August 2013. However, production of crude oil and natural gas declined by 4.9 per cent and 8.3 per cent respectively. Refinery products and fertilizer sectors too recorded negative growth of 4.3 per cent and 4.3 per cent respectively. The August figures would have positive impact on overall industrial production as the eight core sectors has a combined weight of about 38 per cent in the Index of Industrial Production.

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