Core sector output in the month of November rose to five-month high of 6.7% y-o-y as compared to 6.3% in October primarily on the back of better output in coal, refinery products, electricity and cement. The eight industries - crude oil, petroleum refinery products, natural gas, fertilisers, coal, electricity, cement and finished steel - have a weight of 37.9% in the overall Index of Industrial Production (IIP). Its cumulative growth during April to November, 2014-15 was recorded at 4.6%.
Among core sectors, Electricity generation having 10.32% weight in IIP index registered a growth of 10.2% in November, 2014 over the same month of corresponding period. During April to November 2014-15, it recorded a growth of 10.4% over the corresponding period of previous year. Coal production with weightage of 4.38% in index increased by 14.5% in November, 2014 over the same period of corresponding period. On cumulative basis, coal production growth during April-November, 2014-15 increased by 9.5% compared to April-November, 2013-14.
Petroleum refinery production with a weight of 5.94% in IIP index, increased by 8.1 % in November, 2014 over November, 2013. However, its cumulative index during April to November, 2014-15 declined by 0.5% over the corresponding period of previous year. Cement and Steel, with weightage of 2.41% and 6.68% in index increased by 11.3% and 1.3% in November, 2014 over November, 2013. In cumulative terms, Cement and Steel output increased by 8.5% and 2.2% during April-November 2014-15.
However, there are some weak signs among the eight industries. Fertilizer production with weightage of 1.25% in IIP index declined 2.8% in November, 2014 over November, 2013. The cumulative index of Fertilizer production during April-November 2014-15 declined by 1.3 % over the corresponding period of previous year. Natural Gas production having weightage 1.71% in IIP index declined by 2.9% in November 2014 as compared to the month in November, 2013. The cumulative index for Natural Gas production during April-November 2014-15 declined by 5.3% over corresponding period of previous year. Crude Oil production having weight of 5.22% in IIP, declined by 0.1 % in November, 2014 over November, 2013. The cumulative index of Crude Oil during April to November, 2014-15 declined by 0.8% over the corresponding period of previous year.
