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Low industrial fuel consumption points to stagnant industrial sector?
Apr 18: A good barometer of how industrial growth is faring is to look at liquid industrial fuel consumption figures
8Latest data available for 2017-18 seems to show a depressing picture
8The demand for FO/LSHS and naphtha fell by 5.5% and 5.2% yoy, as compared to 7.8% growth and 0.2% decline in FY2017 respectively.
8The growth in petcoke demand moderated to 9.3% yoy in FY2018 from a high base of 24.2%
8The demand for lubricants/greases accelerated to 8.9% yoy in FY2018 as compared to a decline of 2.8% in FY2017.
8Despite rapid road laying, bitumen off-take increased by a modest 1.2% yoy in FY2018 from flattish volumes in FY2017.
8Gas volumes did not go up much either on account of high spot prices.
8These figures indicate that industrial growth did take a knock last year
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