India's core industry growth slows to 4.8 percent as electricity and cement rise by double digits

India's core industry output grew 4.8 percent in August from a year earlier, slightly less than the final 5.0 percent rate for July, according to the government's latest index release.

The split was wide. Electricity output rose 11.6 percent and cement rose 12.5 percent, while iron ore increased 5.5 percent, steel 3.4 percent and refinery products 2.6 percent.

Coal output contracted 3.8 percent, natural gas 4.9 percent, crude oil 3.6 percent and fertilizers 12.4 percent. The release covers nine industries under a new index with a 2022 to 2023 base year.

Growth from April through August was 4.3 percent, compared with 2.4 percent in the same period a year earlier. July's growth rate was revised down from a provisional 5.4 percent.