Output of eight core industries increases by 5.4% in November 2022

31 Dec 2022 Evaluate

The output of eight core industries increased by 5.4 per cent in November 2022 as against a 3.2 per cent growth in the same month last year on a better show by coal, fertiliser, steel, cement and electricity segments. The production growth of eight key sectors slowed down to 0.9 per cent in October 2022. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Coal production, having 10.33 per cent weight, increased by 12.3 per cent in November 2022 over November 2021 and its cumulative index increased by 17.2 per cent during April to November 2022 over corresponding period of the previous year. Fertilizers production, having 2.63 per cent weight, increased by 6.4 per cent in November 2022 over November 2021 and its cumulative index increased by 10.0 per cent during April to November, 2022 over the corresponding period of previous year. Steel production, having 17.92 per cent weight, increased by 10.8 per cent in November 2022 over November 2021 and its cumulative index increased by 7.1 per cent during April to November, 2022 over the corresponding period of previous year.

Cement production, having 5.37 per cent weight, increased by 28.6 per cent in November 2022 over November 2021 and its cumulative index increased by 10.8 per cent during April to November, 2022 over the corresponding period of previous year. Electricity generation, having 19.85 per cent weight, increased by 12.1 per cent in November 2022 over November 2021 and its cumulative index increased by 9.7 per cent during April to November, 2022 over the corresponding period of previous year.

On the other hand, crude oil production, having 8.98 per cent weight, declined by 1.1 per cent in November 2022 over November 2021 and its cumulative index declined by 1.4 per cent during April to November, 2022 over the corresponding period of previous year. Natural Gas production, having 6.88 per cent weight, declined by 0.7 per cent in November 2022 over November 2021, while its cumulative index increased by 0.7 per cent during April to November, 2022 over the corresponding period of previous year. Petroleum Refinery production, having 28.04 per cent weight, declined by 9.3 per cent in November 2022 over November 2021, while its cumulative index increased by 5.7 per cent during April to November, 2022 over the corresponding period of previous year.

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