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Eight core sectors grow by 5.1% in May

Eight core sectors grow by 5.1% in May

The eight core sectors in the country have recorded a growth of 5.1 per cent in May on the back of healthy output in steel and electricity. These sectors are coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. They had grown by 4.1 per cent in May last year. According to a Commerce and Industry Ministry statement, Steel output increased by 19.9 per cent, while electricity grew by 7.2 per cent during the month under review.

The growth rate for the eight key sectors for April 2019 has been revised upward to 6.3 per cent from 2.6 per cent reported earlier mainly due to upward revisions in production of coal, crude oil, steel, cement and electricity. After the revised numbers, the growth rate would be highest in the last ten months. Last time it was in July 2018, when these sectors grew by 7.8 per cent.

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