Core sector growth slows to 2.1% in July 2019

03 Sep 2019 Evaluate

The growth of eight core infrastructure industries slowed down to 2.1% in July 2019 as compared to 7.3% in the same month a year ago, on the back of contraction in coal, crude oil and natural gas production. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 131.9 in July, 2019, which was 2.1% higher compared to the index of July, 2018. Its cumulative growth during April to July, 2019-20 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, Coal production having 10.33% weight declined 1.4% in July, 2019 over July, 2018, while its cumulative index increased by 1.8% during April to July, 2019-20 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight fell 0.9% in July, 2019 over July, 2018, and its cumulative index dropped by 2.0% during April to July, 2019-20 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight declined by 0.5 percent in July, 2019 over July, 2018, and its cumulative index was down by 0.8% during April to July, 2019-20 over the corresponding period of previous year. Steel production having 17.92% weight increased by 6.6% in July, 2019 over July, 2018 and its cumulative index surged by 10.9% during April to July, 2019-20 over the corresponding period of previous year. Electricity generation having 19.85% weight jumped by 4.2% in July, 2019 over July, 2018 and its cumulative index increased by 6.4% during April to July, 2019-20 over the corresponding period of previous year.

Cement production having 5.37% weight rose by 7.9% in July, 2019 over July, 2018 and its cumulative index increased by 2.7% during April to July, 2019-20 over the corresponding period of previous year. Fertilizer production having 2.63% weight surged by 1.5% in July, 2019 over July, 2018, while, its cumulative index declined by 0.4% during April to July, 2019-20 over the corresponding period of previous year. Crude Oil production having 8.98% weight declined by 4.4% in July, 2019 over July, 2018 and its cumulative index fell by 6.2% during April to July, 2019-20 over the corresponding period of previous year.

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