Core sector growth slows to 3-month low of 3%

THE STEEL SECTOR performance supported the core sector output in September, which expanded 3% on-year despite the contraction in four of the eight components of the Index of Eight Core Industries (ICI).

- FE BUREAU

The growth in September was, however, less than half of 6.5% expansion seen in August, and a three-month low.

In September, the output of the steel sector that has a weight of 17.92% in the index grew 14.1%, which was higher than 13.6% in August, according to the data released by the department for promotion of industry and internal trade (DPIIT).

The ICI grew 2.4% in September last year.