Core sector growth slows to 4.9% in November

03 Jan 2017 Evaluate

Core sector output in the month of November slowed down to 4.9% from 6.6% in October and 5.01% in September, mainly due to decline in production of crude oil and natural gas. Though, it was higher than the 0.6% growth seen in November 2015, on the back of healthy performance by sectors, including coal, steel and electricity. As per the data of Ministry of Commerce & Industry, the combined Index of Eight Core Industries stood at 178.2 in November, 2016, which was 4.9% higher compared to the index of November, 2015. Its cumulative growth during April to November, 2016-17 was 4.9%.

Among eight core sectors coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - have a weight of 38% in the overall Index of Industrial Production (IIP), Electricity generation having 10.32% weight recorded healthy growth of 10.2% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 5.4% over the corresponding period of previous year. Coal production having 4.38% weight jumped 6.4% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 1.6% over corresponding period of previous year. Steel production having 6.68% weight surged 5.6% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 8.2% over the corresponding period of previous year.

Fertilizer production having weight of 1.25% rose 2.4% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 4.5% over the corresponding period of previous year. Petroleum Refinery production having 5.94% weight advanced 2.0% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 8.0% over the corresponding period of previous year. Cement production having 2.41% weight increased by 0.5% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 increased by 4.3% over the corresponding period of previous year.

On the other hand, Crude Oil production having 5.22% weight dropped 5.4% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 declined by 3.5% over the corresponding period of previous year. The Natural Gas production having 1.71% weight slipped 1.7% in November, 2016 over November, 2015. Its cumulative index during April to November, 2016-17 declined by 3.7% over the corresponding period of previous year.

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