Eight core sector industries’ growth declines to 1.8%
The growth rate of the eight infrastructure industries declined to 1.8 per cent in November as the output in sectors such as coal, cement and natural gas contracted. November’s dismal core sector numbers come on the back of an eight-month high growth of 6.5 per cent reported in October 2012.
In November 2011, production in these sectors was recorded at 7.8 per cent. According to the official data released Monday, growth rates in the electricity, steel and petroleum refinery products sector declined during the month.
The cumulative expansion of the eight industries — crude oil, natural gas, cement, coal, electricity, steel, petroleum refinery products and fertilisers — was down at 3.5 per cent in April-November against 4.8 per cent in the same period last year.
While the production of coal contracted 4.4 per cent during the month, as compared to a 10.9 per cent growth during October, natural gas production declined 15.2 per cent as compared to a contraction of 14.9 per cent last month.
In November 2011-12, production of natural gas and coal contracted by 15.2 per cent and 4.4 per cent respectively. Cement production shrank 0.2 per cent during the month as against 6.8 per cent growth during October. It shrank by 17 per cent during the same period last year.
The eight industries have a weight of 37.9 per cent in the overall Index of Industrial Production (IIP).
Production of refinery products grew by just 6.6 per cent during the month as against a robust growth 20.3 per cent in October
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