India's core sector output grows 0.7% in May
New Delhi: The output of eight core infrastructure sectors, which account for two-fifths of India's industrial output, expanded by 0.7% in May, the ministry of commerce & industry said on Friday. The expansion was led by positive growth in the production of cement, steel, coal and refinery products
The index had expanded by a revised 1% in April.
The Index of Eight Core Industries measures the combined and individual output of key industries – coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production.
India's manufacturing sector activity had dropped to a three-month low in May as growth in new orders and output softened, a private survey showed on 2 June.
The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.6 in May from 58.2 in April and 58.1 in March. India's manufacturing PMI was 56.3 in February and 57.7 in January.
A reading above 50 indicates expansion.
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