Eight Core Industries Index Slows to 4% Growth in January

The Eight Core Industries Index saw a growth of 4% in January this year compared to the same period last year, according to data released by the Commerce and Industry Ministry. This represents a moderation from the previous month's revised growth rate of 4.7%. The energy-related sectors showed continued weakness.

However, some industries maintained their positive momentum, including steel production, which increased by 9.9%, cement production, which surged by 10.7%, electricity, which rose by 3.8%, fertilizer production, which increased by 3.7%, and coal production, which grew by 3.1%.

On the other hand, crude oil production declined by 5.8% and natural gas production fell by 5%. The cumulative growth rate of ICI from April to January is provisionally reported at 2.8% compared to the corresponding period last year.