Core sector growth slows to 1.8% in January 2019

01 Mar 2019 Evaluate

The growth of eight core infrastructure industries slowed down to 1.8 percent in January due to fall in output of crude oil, refinery products and electricity. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 134.8 in January, 2019, which was 1.8% higher compared to the index of January, 2018. Its cumulative growth during April to January, 2018-19 was 4.5%. 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 1.7% in January, 2019 over January, 2018, and its cumulative index increased by 7.1% during April to January, 2018-19 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight decreased 2.6% in January, 2019 over January, 2018, while its cumulative index surged by 3.4% during April to January, 2018-19 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight increased by 6.2% in January, 2019 over January, 2018, and its cumulative index was up by 0.5% during April to January, 2018-19 over the corresponding period of previous year. Besides, Steel production having 17.92% weight jumped by 8.2% in January, 2019 over January, 2018 and its cumulative index increased by 5.0% during April to January, 2018-19 over the corresponding period of previous year. Electricity generation having 19.85% weight decreased by 0.4% in January, 2019 over January, 2018 and its cumulative index increased by 5.7% during April to January, 2018-19 over the corresponding period of previous year.

Cement production having 5.37% weight jumped 11.0% in January, 2019 over January, 2018 and its cumulative index increased by 13.6% during April to January, 2018-19 over the corresponding period of previous year. On the flip side, Fertilizer production having 2.63% weight increased by 10.5% in January, 2019 over January, 2018, and its cumulative index was down by 0.3% during April to January, 2018-19 over the corresponding period of previous year. Crude Oil production having 8.98% weight decreased by 4.3% in January, 2019 over January, 2018 and its cumulative index fell by 3.8% during April to January, 2018-19 over the corresponding period of previous year.

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