India's core industrial output rate eases to 1.8%

New Delhi, Feb 28 (IANS) The output pace of India's eight major industries hugely decelerated in January to 1.8 per cent, official data showed on Thursday.According to the data from the Ministry of Commerce and Industry, the Index of Eight Core Industries (ECI) had risen by 6.2 per cent during the same period last year.On a sequential basis, the index rose by 2.7 per cent in December 2018.The index carries 40.27 per cent weight of the items included in the Index of Industrial Production (IIP). "The combined Index of Eight Core Industries stood at 134.8 in January 2019, which was 1.8 per cent higher as compared to the index of January 2018. Its cumulative growth during April to January in 2018-19 was 4.5 per cent," the Ministry said in a statement.
--IANS rv/nir