India Steel Market Watch
October 13: In the first quarter of FY2016, growth in the mining sector stood at 0.4% compared to 0.3% in the same period in FY2015. Beginning of this year was not good for the mining sector because growth was negative for December 2014 (-1.7%) and January 2015 (-1.8%). Though a recovery was there in the sector, the figure was swinging between positive and negative domains.
As per the last available figure, in July 2015, mining growth was 1.3%, significantly high compared to its previous month’s figure, which was 0.5%. Growth of the mining sector is very important for the economy and industrial growth because the sector contributes 14% to the industrial production index.
% yr |
Mining |
Weight |
14 |
Dec-14 |
-1.7 |
Jan-15 |
-1.8 |
Feb-15 |
1.6 |
Mar-15 |
1.2 |
Apr-15 |
-0.6 |
May-15 |
2.3 |
Jun-15 |
-0.5 |
Jul-15 |
1.3 |
Q1 FY15 |
0.3 |
Q1 FY16 |
0.4 |