Core sector growth slows down to 5-month low of 3.4% in January

01 Mar 2017 Evaluate

Contraction in the output of refinery products, fertiliser and cement pulled down the eight core sector growth to a five month low of 3.4% in January 2017, as against 5.7% in January 2016. Infrastructure sectors’ expansion in January this year is the lowest since August 2016, when the segments had recorded a growth of 3.2%. It is also lower than that of 5.6% in December 2016. According to the data released by the ministry of Commerce and Industry, the combined Index of eight core industries coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity stood at 191.8 in January, 2017, which was 3.4% higher compared to the index of January, 2016. Its cumulative growth during April to January, 2016-17 was 4.8%.

Among eight core sectors, Steel production having 6.68% weight jumped 11.4% in January, 2017 over January, 2016. Its cumulative index during April to January, 2016-17 increased by 9.2% over the corresponding period of previous year. Electricity generation having 10.32% weight advanced 4.8% in January, 2017 over January, 2016. Its cumulative index during April to January, 2016-17 increased by 5.4% over the corresponding period of previous year. Coal production having 4.38% weight increased by 4.8% in January, 2017 over January, 2016. Its cumulative index during April to January, 2016-17 increased by 2.3% over corresponding period of previous year.

The Natural Gas production having 1.71% weight surged 11.9% in January, 2017 over January, 2016, while its cumulative index during April to January, 2016-17 declined by 1.9% over the corresponding period of previous year. Crude Oil production having 5.22% weight increased by 1.3% in January, 2017 over January, 2016, while its cumulative index during April to January, 2016-17 declined by 2.8 % over the corresponding period of previous year.

On the other hand, Cement production having 2.41% weight declined 13.3% in January, 2017 over January, 2016, while its cumulative index during April to January, 2016-17 increased by 1.0 % over the corresponding period of previous year. Fertilizer production having 1.25% weight slipped 1.6% in January, 2017 over January, 2016, while its cumulative index during April to January, 2016-17 increased by 2.9 % over the corresponding period of previous year. Petroleum Refinery production having 5.94% weight declined 1.5% in January, 2017 over January, 2016, while its cumulative index during April to January, 2016-17 increased by 6.8 % over the corresponding period of previous year.

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