Core Industry grew by 5.3% in May 2011 :Emkay

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Core Industry grew by 5.3% in May 2011

The core industry for May-11 grew by a 5.3%yoy compared with 7.4%yoy growth in the same month last year and 4.6% in preceding month. The growth was driven by 10.3%yoy growth in electricity, 9.7%yoy growth in crude oil, 7.3%yoy growth in fertilizers, 6.7%yoy growth in steel production. However Natural gas and cement production was down by 9.6% and 2.3% respectively during the month.