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India's January Core Sector Growth Slows To 4%, Power Output Slumps

Steel production remained strong, with the output rising by 9.9% after a 6.9% growth in December.

India's January Core Sector Growth Slows To 4%, Power Output Slumps

India's eight core sectors recorded a cumulative growth of 4% year-on-year in January, which marks a slowdown as compared to 4.7% in the preceding month, as per the data released by the Ministry of Commerce and Industry on Friday.

The decline comes amid a slump in power output growth, which fell to 3.8% from 6.3% in December.

Cement output rose significantly by 10.7% year-on-year, signalling a jump in construction activity. In the preceding month, the growth stood at 13.5%.

Steel production remained robust, rising by 9.9% in January after a 6.9% climb in December. The coal sector witnessed an uptick of 3.1%, after an 3.6% jump in the previous month.

Fertiliser output also increased by 3.7% in January, after 4.1% growth in December.

However, the output of petroleum refinery products, which hold the most weightage in the index of eight core industries, remained flat after a 1% decline in the previous month.

ALSO READ: December IIP Data: Industrial Production Rises 7.8%, Highest In Over Two Years

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