Core sector growth contracts to 5.2% in September

01 Nov 2019 Evaluate

The growth of eight core infrastructure industries contracted massively by 5.2% in September 2019, as compared to same period of last year, due to a decline in output of coal, crude oil, natural gas, cement, and electricity. It had expanded by 4.3% in September last year. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 120.6 in September, 2019, which was 5.2% lower compared to the index of September, 2018. Its cumulative growth during April to September, 2019-20 was 1.3%. 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 by 20.5% in September, 2019 over September, 2018, and its cumulative index decreased by 3.5% during April to September, 2019-20 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight fell 6.7% in September, 2019 over September, 2018, and its cumulative index dropped by 2.0% during April to September, 2019-20 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight declined by 4.9 percent in September, 2019 over September, 2018, and its cumulative index was down by 2.0% during April to September, 2019-20 over the corresponding period of previous year. Steel production having 17.92% weight decreased by 0.3% in September, 2019 over September, 2018 while its cumulative index surged by 8.5% during April to September, 2019-20 over the corresponding period of previous year. Electricity generation having 19.85% weight fell 3.7% in September, 2019 over September, 2018 while its cumulative index increased by 3.6% during April to September, 2019-20 over the corresponding period of previous year.

Cement production having 5.37% weight declined by 2.1% in September, 2019 over September, 2018 while its cumulative index increased by 0.7% during April to September, 2019-20 over the corresponding period of previous year. Crude Oil production having 8.98% weight declined by 5.4% in September, 2019 over September, 2018 and its cumulative index fell by 6.0% during April to September, 2019-20 over the corresponding period of previous year. However, fertilizer production having 2.63% weight surged by 5.4% in September, 2019 over September, 2018, and, its cumulative index increased by 1.1% during April to September, 2019-20 over the corresponding period of previous year.

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