At 7.9%, core sector clocks fastest growth in new series

Core sector grew 7.9% in Sept, compared with 3.1% a year ago, driven by strong performance in electricity, cement and refinery products and aided by a favourable base as well, official data released Tuesday showed. Sequentially, the growth marked acceleration from an upwardly revised figure of 5.9% in Aug. This is the strongest performance of the core sector in the new series with the revised base year.Output in the energy-dominant industries like natural gas (-4.6%), crude oil (-1.4%) and fertilisers (-11.7%) saw continued sequential contraction, reflecting the impact of the prolonged conflict in West Asia. Output in the refinery products (10.3%) and coal (10.7%), however, saw acceleration during the month.Output in the infrastructure-dominant industries such as electricity (11.4%) and steel (4.9%) showed positive growth in Sept. In the newly added iron ore industry, output further accelerated (18.4%) during the month.Bank of Baroda chief economist Madan Sabnavis said Sept figures highlight buoyancy in infrastructure where govt has been spending.You use AI every day. Now get your AI Quotient. Take the AIQ test.