Contraction in output of coal and fertilizer slowed the growth rate of eight core sector to 3.6% in the month of May 2017, as compared to 5.2% in May last year, though it was higher as compared to 2.8% in April 2017, with a sharp rise in the output of electricity, refinery and natural gas production. According to that data released by the ministry of Commerce and Industry showed the combined Index of eight core industries stood at 126.4 in May, 2017, which was 3.6% higher compared to the index of May, 2016. Its cumulative growth during April to May, 2017-18 was 3.2%. The eight industries - coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity - have a weight of 40.27% in the overall Index of Industrial Production (IIP).
Among eight core sectors, Electricity generation having 19.85% weight surged 6.4% in May, 2017 over May, 2016 and its cumulative index increased by 5.9% during April to May, 2017-18 over the corresponding period of previous year. Petroleum Refinery production having 28.04% weight jumped 5.4% in May, 2017 over May, 2016 and its cumulative index increased by 2.8% during April to May, 2017-18 over the corresponding period of previous year. The Natural Gas production having 6.88% weight rose 4.5 % in May, 2017 over May, 2016 and its cumulative index increased by 3.3% during April to May, 2017-18 over the corresponding period of previous year.
Steel production having 17.92% weight advanced 3.7% in May, 2017 over May, 2016. Its cumulative index increased by 6.3% during April to May, 2017-18 over the corresponding period of previous year. Crude Oil production having 8.98% weight inched up by 0.7% in May, 2017 over May, 2016 and its cumulative index increased by 0.1% during April to May, 2017-18 over the corresponding period of previous year. Cement production having 5.37% weight increased by 1.8% in May, 2017 over May, 2016, while its cumulative index declined by 0.3% during April to May, 2017-18 over the corresponding period of previous year.
On the other hand, Fertilizer production having 2.63% weight dropped 6.5% in May, 2017 over May, 2016 and its cumulative index declined by 0.8% during April to May, 2017-18 over the corresponding period of previous year. Coal production having 10.33% weight slipped 3.3% in May, 2017 over May, 2016 and its cumulative index decreased by 3.3% during April to May, 2017-18 over corresponding period of the previous year.