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BW Businessworld

January Core Sector Growth At 2.2 %, Crude Oil Drags

Crude oil production declined by 5.3 per cent in January 2020 over January 2019.

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The eight core industries grew at 2.2 per cent in January against 2.1 per cent month-on-month, showed the government data released on Friday.

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 137.5 in January 2020, which increased by 2.2 per cent as compared to the index of January 2019," according to an official statement released by the Ministry of Commerce and Industry.

"Its cumulative growth during April 2019 to January 2020 was 0.6 per cent," it added.

However, crude oil production declined by 5.3 per cent in January 2020 over January 2019. Its cumulative index declined by 6 per cent during April to January 2019-20 over the corresponding period of previous year. 

(ANI)


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