Feb core sector growth at 4-month high on steel, power recovery : Rashtra News
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The index of eight core industries rose 5.8% in February compared with 4% in the month before and -3.3% in February last year.
The index measures the output of eight sectors – coal, steel, cement, fertiliser, electricity, natural gas, refinery products and crude oil.
The growth for April-February is 11% against 8.1% contraction in the previous fiscal. “The negative and low base effect has propped up production for all segments,” said Madan Sabnavis, chief economist at Bank of Baroda. Rating agency ICRA said the February growth was mildly higher than its expectation of 5.0%.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a economictimes.indiatimes.com feed.)
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