Construction Industry News
India's eight infrastructure sectors grew double-digit for the second consecutive month in June, even though successive growth faltered.
Data released by the Industry division shows the core industry grew 12.7% year-on-year in June; successively it shrank by 4.1%.
Aditi Nayar, chief economist at Icra, said there was a fairly broad moderation in core sector growth, from 19.3% in May to 12.7% in June, reflecting the normalizing base. “The core sector reported 8% growth from pre-Covid levels in June 2022, with a healthy performance across all sectors,
except steel and crude oil. In line with the moderation in YoY performance recorded by most high-frequency indicators, as well as the core sector in June 2022, we expect IIP growth to slow to around 11-13% in that month,” she said.
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