Output of eight core industries increases at 3-month high of 7.4% in December 2022

01 Feb 2023 Evaluate

The output of eight core industries increased at a three-month high of 7.4 per cent in December 2022 as against 4.1 per cent in the same month of previous year on a better show by coal, fertiliser, steel, and electricity segments. The production of eight key sectors rose by 5.7 per cent in November 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 11.5 per cent in December, 2022 over December, 2021 and its cumulative index increased by 16.4 per cent during April to December 2022 over corresponding period of the previous year. Natural Gas production, having 6.88 per cent weight increased by 2.6 per cent in December, 2022 over December, 2021 and its cumulative index increased by 0.9 per cent during April to December, 2022 over the corresponding period of previous year.

Petroleum Refinery production, having 28.04 per cent weight increased by 3.7 per cent in December, 2022 over December, 2021 and its cumulative index increased by 5.5 per cent during April to December, 2022 over the corresponding period of previous year. Fertilizers production, having 2.63 per cent weight increased by 7.3 per cent in December, 2022 over December, 2021 and its cumulative index increased by 9.6 per cent during April to December, 2022 over the corresponding period of previous year. Steel production, having 17.92 per cent weight increased by 9.2 per cent in December, 2022 over December, 2021 and its cumulative index increased by 7.7 per cent during April to December, 2022 over the corresponding period of previous year.

Cement production, having 5.37 per cent weight increased by 9.1 per cent in December, 2022 over December, 2021 and its cumulative index increased by 10.6 per cent during April to December, 2022 over the corresponding period of previous year. Electricity generation, having 19.85 per cent weight increased by 10.0 per cent in December, 2022 over December, 2021 and its cumulative index increased by 9.8 per cent during April to December, 2022 over the corresponding period of previous year. However, crude oil production, having 8.98 per cent weight declined by 1.2 per cent in December, 2022 over December, 2021. Its cumulative index declined by 1.3 per cent during April to December, 2022 over the corresponding period of previous year.

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