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  1. Core sector growth slows to 3-month low of 2.4% in Dec

Core sector growth slows to 3-month low of 2.4% in Dec

Lower production of crude oil, natural gas, fertiliser and steel brought down output growth in eight core sector...

By: | New Delhi | Published: February 3, 2015 1:24 AM

Lower production of crude oil, natural gas, fertiliser and steel brought down output growth in eight core sector industries to a three-month low of 2.4% in December 2014.

Core industries, which account for more than a third of industrial output, had grown 4% in December 2013.

This sector, which also includes coal, refinery products, cement and electricity, had recorded 4.4% expansion in the first three quarters of 2014-15, slightly faster than the 4.1% it recorded in the same period last fiscal.

Recent data showed industrial production growth recording a five-month high of 3.8% in November due to improvement in manufacturing and mining sectors as well as better offtake of capital goods.

Slower core sector growth in December compares with 6.7% growth in November.

Production of crude oil fell by 1.4%, natural gas by 3.5%, fertiliser by 1.6% and steel by 2.4% in December 2014. Growth in electricity generation was slower at 3.7% last December from 7.6% in December 2013. However, coal production grew by 7.5%, refinery products by 6.1% and cement output by 3.8% in the month under review.

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