Core sector growth hits 13-month high of 6.8% in November

02 Jan 2018 Evaluate

The growth of eight core infrastructure industries expanded at a faster pace to a thirteen-month high of 6.8% in November 2017, from 4.7% in October. The growth was mainly driven by a robust performance in segments like refinery, steel and cement. This has been the highest year-on-year growth registered in the financial year 2018. According to the data released by the ministry of Commerce and Industry showed the combined Index of eight core industries stood at 123.9 in November, 2017, which was 6.8% higher compared to the index of November, 2016. Its cumulative growth during April to November, 2017-18 was 3.9%. 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, Coal production having 10.33% weight fell 0.2% in November, 2017 over November, 2016, while its cumulative index increased by 1.5% during April to November, 2017-18 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight jumped 8.2% in November, 2017 over November, 2016 and its cumulative index increased by 3.6% during April to November, 2017-18 over the corresponding period of previous year. Electricity generation having 19.85% weight surged 1.9% in November, 2017 over November, 2016 and its cumulative index rose by 4.9% during April to November, 2017-18 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight advanced 2.4% in November, 2017 over November, 2016 and its cumulative index was up by 4.4% during April to November, 2017-18 over the corresponding period of previous year. Steel production having 17.92% weight increased by 16.6% in November, 2017 over November, 2016 and its cumulative index jumped by 7.2% during April to November, 2017-18 over the corresponding period of previous year.

Crude Oil production having 8.98% weight increased by 0.2% in November, 2017 over November, 2016, while its cumulative index declined by 0.2% during April to November, 2017-18 over the corresponding period of previous year. Fertilizer production having 2.63% weight increased by 0.3% in November, 2017 over November, 2016, while its cumulative index declined 1.1% during April to November, 2017-18 over the corresponding period of previous year. On the other hand, Cement production having 5.37% weight was up by 17.3% in November, 2017 over November, 2016 and its cumulative index increased by 0.6% during April to November, 2017-18 over the corresponding period of previous year.

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