Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

Core sector output declines by 1.5 pc in Nov against 3.3 pc growth in year-ago month

The core sector for October had contracted to 5.8 per cent from the 5.1 per cent contraction seen in September.

Photo Credit :

1464070250_YZITTU_ONGC_Gujarat_Reu.jpg

The growth of eight core industries contracted by 1.5 per cent in November due to a fall in coal, crude oil and natural gas production, government data released on Tuesday showed.

The output of eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had grown 3.3 per cent in November last year. The core sector for October had contracted to 5.8 per cent from the 5.1 per cent contraction seen in September.

The eight core industries comprise 40.27 per cent of the weight of items included in the index of industrial production (IIP).

"The combined index of eight core industries stood at 126.3 in November which declined by 1.5 per cent as compared to the index of November 2018. Its cumulative growth during April to November was zero per cent," according to an official statement.

While crude oil output growth was minus 6 per cent over November last year, coal output growth stood at minus 2.5 per cent year-on-year.

Natural gas production declined by 6.4 per cent, steel production by 3.7 per cent and electricity generation by 5.7per cent.
However, petroleum refinery production increased by 3.1 per cent, fertilisers production by 13.6 per cent and cement production by 4.1 per cent.

(ANI)


sentifi.com

Top themes and market attention on: