Infrastructure output in September grew at its fastest pace in eleven months, driven by robust performances in coal, electricity and cement sectors and raised hopes for providing a boost to overall industrial output.
The infrastructure sector output rose an annual 8% in September, accelerating from the previous month’s 3.7%. In September 2012, the sector notched up a growth of 8.3%.
The key sector, spanning crude oil, natural gas, refinery products, fertilizers, cement, coal and steel, accounts for nearly 38% of the index of industrial output and a strong show augurs well for overall industrial output data which is due early next month.
The vital sector has been under stress for several months and has posted sluggish growth consistently. The volatility in the data has also made it difficult for analysts to predict a trend.
Industrial output growth slowed to 0.6% in August after posting a 2.7% growth in July. The sector has been hit hard by several factors, which include high interest rates, slowing investment, stubborn prices and slowdown in the global and domestic economy.
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