India's core sector output grows 0.7% in May
New Delhi: The output of eight core infrastructure sectors, which account for two-fifths of India's industrial output, expanded by 0.7% in May, the ministry of commerce & industry said on Friday. The expansion was led by positive growth in the production of cement, steel, coal and refinery products
The index had expanded by a revised 1% in April.
The Index of Eight Core Industries measures the combined and individual output of key industries – coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity.
The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production.
India's manufacturing sector activity had dropped to a three-month low in May as growth in new orders and output softened, a private survey showed on 2 June.
The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.6 in May from 58.2 in April and 58.1 in March. India's manufacturing PMI was 56.3 in February and 57.7 in January.
A reading above 50 indicates expansion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
US stock market today: Wall Street rises as investors monitor Middle East tension; CarMax jumps on earnings, oil and yields climb
US stocks gained ground on Friday as Wall Street reopened after the Juneteenth holiday, with investors balancing solid earnings from CarMax against rising geopolitical uncertainty in the Middle East. The S&P 500 rose 0.4% to extend its weekly gain, while the Dow Jones Industrial Average added 159 points and the Nasdaq composite climbed 0.6% at initial minutes of trading. Used-car retailer CarMax was among the session's top performers after reporting stronger-than-expected profits. According to the Associated Press, Treasury yields also edged higher after President Donald Trump said he would decide within two weeks whether the US military will join the Israel-Iran conflict. The news has kept traders on edge, with crude oil prices continuing to rise amid concerns about potential disruptions in global supply. US benchmark crude added 52 cents to $75.66 a barrel, while Brent crude, the international standard, climbed 31 cents to $77.01. Iran is a major oil producer and controls the strategic Strait of Hormuz, through which a large portion of global crude flows. "The stock market's risk premium isn't just rising — it's recalibrating for a world where every macro lever now doubles as a tripwire," said Stephen Innes, managing partner at SPI Asset Management, noting that markets are pricing in the uncertainty of Trump's next move. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Un ingreso adicional para ecuatorianos: invierte en Amazon CFD. InvestIQ Solicita ahora Undo In global markets, Europe saw a broad rally. The FTSE 100 in London gained 0.4%, Paris' CAC-40 rose 0.6%, and Germany's DAX added 0.9%. Meanwhile, performance across Asia was mixed: Hong Kong's Hang Seng gained 1.3% and South Korea's Kospi rose 1.5%, while Japan's Nikkei edged down 0.2% and Shanghai's Composite Index slipped 0.2%. Earlier, Japan reported that core inflation climbed to 3.7% in May, exceeding expectations and adding pressure on the Bank of Japan, already contending with Trump's tariffs. 'For now, it's more concerned about the risk that US trade policies could break the virtuous circle of wage growth and inflation," said Min Joo Kang, economist at ING. The Bank of England also held its main interest rate at 4.25% on Thursday, citing risks of a broader regional escalation. In currency markets, the US dollar slipped to 145.37 yen, and the euro rose to $1.1516. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
an hour ago
- Time of India
US stocks open higher with Trump's Middle East decision in focus
Wall Street 's main indexes opened higher on Friday, tracking strength in global stocks after President Donald Trump held off from making an immediate call on U.S. involvement in the Israel-Iran war. The Dow Jones Industrial Average rose 119.4 points, or 0.28%, at the open to 42,291.09. The S&P 500 rose 18.8 points, or 0.31%, at the open to 5,999.67, while the Nasdaq Composite rose 93.1 points, or 0.48%, to 19,639.408 at the opening bell. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Unsold Container Homes in Quezon - Prices You Won't Believe! Shipping Container Homes | Search Ads Search Now Undo
Time of India
2 hours ago
- Time of India
Eight core industries record 0.7% growth in May, cement and steel production up, ET Manufacturing
Advt Advt The combined Index of Eight Core Industries ICI ) increased by 0.7 per cent in May compared to the same month last year, the Ministry of Commerce and Industry data showed on production of cement coal , and refinery products recorded positive growth last final growth rate of the Index of Eight Core Industries for February, March and April was observed at 3.4, 4.5 and 1.0 per cent, respectively, said the cumulative growth rate of the ICI during April to May, 2025-26 is 0.8 per cent (provisional) as compared to the corresponding period of last May, coal production increased by 2.8 per cent over May. Its cumulative index increased by 3.1 per cent during April to May, 2025-26 over the corresponding period of the previous refinery production increased by 1.1 per cent in May. Its cumulative index declined by 1.7 per cent during April to May, 2025-26 over the corresponding period of the previous year, as per the ministry production increased by 6.7 per cent and its cumulative index increased by 5.5 per cent during April to May, 2025-26 over the corresponding period of the previous production also rose by 9.2 per cent in May. Its cumulative index increased by 7.8 per cent during April to May, 2025-26 over the corresponding period of the previous generation declined by 5.8 per cent in May, and its cumulative index declined by 2.2 per cent during April to May, 2025-26 over the corresponding period of the previous ICI measures the combined and individual performance of the production of eight core industries -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), said the ministry.
