Core sector growth surges to 5 month high of 4.9% in August

04 Oct 2017 Evaluate

The growth of eight core infrastructure industries surged to five-month high by 4.9% in August 2017, as compared to 2.4% in July 2017, on the back of a double-digit jump in coal production and subsequent rise in electricity generation. According to the data released by the ministry of Commerce and Industry showed the combined Index of eight core industries stood at 123.6 in August, 2017, which was 4.9% higher compared to the index of August, 2016. Its cumulative growth during April to August, 2017-18 was 3.0%. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Among eight core sectors, steel production having 17.92% weight jumped 3.0% in August, 2017 over August, 2016 and its cumulative index increased by 6.0% during April to August, 2017-18 over the corresponding period of previous year. The Natural Gas production having 6.88% weight surged 4.2% in August, 2017 over August, 2016 and its cumulative index increased by 4.8% during April to August, 2017-18 over the corresponding period of previous year. Electricity generation having 19.85% weight rose 10.3% in August, 2017 over August, 2016 and its cumulative index increased by 6.5% during April to August, 2017-18 over the corresponding period of previous year. Coal production having 10.33% weight was up by 15.3% in August, 2017 over August, 2016, while its cumulative index declined by 0.2% during April to August, 2017-18 over corresponding period of the previous year.

On the other hand, Petroleum Refinery production having 28.04% weight surged 2.4% in August, 2017 over August, 2016, and its cumulative index increased by 1.0% during April to August, 2017-18 over the corresponding period of previous year. Cement production having 5.37% weight dropped 1.3% in August, 2017 over August, 2016 and its cumulative index declined by 3.3% during April to August, 2017-18 over the corresponding period of previous year. Crude Oil production having 8.98% weight decreased by 1.6% in August, 2017 over August, 2016, and its cumulative index declined by 0.3% during April to August, 2017-18 over the corresponding period of previous year. Fertilizer production having 2.63% weight was down by 0.7% in August, 2017 over August, 2016 and its cumulative index declined by 1.1% during April to August, 2017-18 over the corresponding period of previous year.

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