Core sector output rises 5% in September

01 Nov 2016 Evaluate

The growth of eight core infrastructure industries rose to three months high by 5% in September 2016, as compared to growth of 2.4% in the year-ago period, on the back of a sustained growth in the steel sector and a rise in refinery products. The Eight Core Industries comprise nearly 38% of the weight of items included in the Index of Industrial Production (IIP). Its cumulative growth during April to September, 2016-17 was 4.6%.

As per the data of Ministry of Commerce & Industry, the combined Index of Eight Core Industries stood at 176.1 in September, 2016, 5% higher compared to the index of September, 2015. Among the eight sectors that make up the core sector, Steel production having weight of 6.68%, surged 16.3% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 increased by 7.2% over the corresponding period of previous year. Petroleum Refinery production having weight of 5.94% jumped 9.3% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 increased by 7.9% over the corresponding period of previous year.

Cement production having weight of 2.41% rose by 5.5% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 increased by 4.5% over the corresponding period of previous year. Electricity generation having weight of 10.32% increased by 2.2% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 increased by 5.1% over the corresponding period of previous year. Fertilizer production having weight of 1.25% increased by 2.0% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 increased by 5.6% over the corresponding period of previous year.

On other hand, Coal production having weight of 4.38% dropped by 5.8% in September, 2016 over September, 2015, while its cumulative index during April to September, 2016-17 increased by 1.2% over corresponding period of previous year. Crude Oil production having weight of 5.22% has declined by 4.1% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 declined by 3.3% over the corresponding period of previous year. The Natural Gas production having weight of 1.71% has declined by 5.5% in September, 2016 over September, 2015. Its cumulative index during April to September, 2016-17 declined by 4.4% over the corresponding period of previous year.

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