The growth of eight core infrastructure industries slowed to ten-month low of 3.6% in May 2018, as compared to 4.7% in April 2018, on account of a decline in production of crude oil and natural gas. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 131.4 in May, 2018, which was 3.6% higher compared to the index of May, 2017. Its cumulative growth during April to May, 2018-19 was 4.1%. 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 rose 12.1% in May, 2018 over May, 2017, and its cumulative index increased by 14.0% during April to May, 2018-19 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight increased 4.9% in May, 2018 over May, 2017 and its cumulative index surged by 3.9% during April to May, 2018-19 over the corresponding period of previous year.
The Natural Gas production having 6.88% weight declined by 1.4% in May, 2018 over May, 2017, while its cumulative index was up by 2.0% during April to May, 2018-19 over the corresponding period of previous year. On the flip side, Steel production having 17.92% weight slightly rose by 0.5% in May, 2018 over May, 2017 and its cumulative index jumped by 2.1% during April to May, 2018-19 over the corresponding period of previous year.
Fertilizer production having 2.63% weight increased by 8.4% in May, 2018 over May, 2017, and its cumulative index rose by 6.6% during April to May, 2018-19 over the corresponding period of previous year. Cement production having 5.37% weight jumped 5.2% in May, 2018 over May, 2017 and its cumulative index increased by 10.7% during April to May, 2018-19 over the corresponding period of previous year. On the other hand, Crude Oil production having 8.98% weight declined by 2.9% in May, 2018 over May, 2017 and its cumulative index fell by 1.9% during April to May, 2018-19 over the corresponding period of previous year.