ADVERTISEMENT
India Infrastructure Output Contracts First Time in Over 4 Years
The index of eight core infrastructure industries fell 0.5% in August. It had last declined in April 2015.
01 Oct 2019, 08:32 AM IST
(Bloomberg) -- India’s core infrastructure industries’ output contracted for the first time in more than four years in August, reflecting weak demand in the economy.
(Bloomberg) -- India’s core infrastructure industries’ output contracted for the first time in more than four years in August, reflecting weak demand in the economy.
The index of eight core infrastructure industries, which comprises output of coal, crude oil, cement and electricity among others, fell 0.5% in August. It had last declined in April 2015.
Key Insights
- The overall output was weighed down by a contraction in coal (-8.6%), crude oil (-5.4%), cement (-4.9%), natural gas (-3.9%), electricity (-2.9%). Steel production expanded 5%, fertilizers by 2.9% and refinery products by 2.6%
- The core infrastructure sector constitutes 40% of total industrial production and the weakness will be a drag on factory output, data for which is due on Oct. 11
- The core data comes few days before the central bank’s monetary policy where it is expected to cut rates for a fifth time to spur growth
Get More
- To read the full statement, click here
To contact the reporter on this story: Vrishti Beniwal in New Delhi at vbeniwal1@bloomberg.net
To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Karthikeyan Sundaram, Subramaniam Sharma
©2019 Bloomberg L.P.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT