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Monday, May 04, 2009

Six core industries grow 2.9% in March 2009

Higher output of cement and electricity boost growth

The six core industries which constitute 26.7% of the Index of Industrial Production (IIP) grew at 2.9% in March 2009. Core sector growth in March 2009 was better due to higher output of cement and electricity, which was supported by the coal and petroleum products sectors. However, crude and finished carbon steel output contracted, compared to March 2008, pulling down the overall growth rate of the core sector.

According to data released by the ministry of commerce and industry on Wednesday 29 April 2009, the core sector grew at 2.7% during the financial year ended March 2009, compared to a growth of 5.9% in the financial year ended March 2008.

Data for the IIP for March 2009 will be released on 12 May 2009 by the Central Statistical Organisation.

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