Core industrial growth accelerated in June to 6.7% on the back of a surge in the petroleum products and steel sectors, according to official data released
Petroleum products saw 12.06% growth in June 2018, up from 4.94% in May. The sector saw 6.6% growth in the April-June quarter. The steel sector also witnessed significant acceleration in growth to 4.42% from 0.7% in May. The sector saw a 2.9% year-on-year growth in the quarter. Growth in the coal sector slowed to 11.5% in June from 12.16% in May, while the crude oil and natural gas sectors both contracted, by 3.4% and 2.74%, respectively, in June.
Fertilisers saw growth slowing sharply in June to 0.93% from 8.44% in May. Growth in the cement sector touched 13.18% in June, up from 12.99% in May.