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Core sector growth dips to 1.8% in Nov

The decline in growth was due to negative growth witnessed in coal, natural gas and cement sectors

Read more on:    Coal | Cement | Natural Gas | Core Sector
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Growth rate of eight industries declined to 1.8% in November, from 7.8% in the same month last year, due to drop in production of , and .

The eight core sector industries had registered eight-month high growth of 6.5% in October 2012.

The decline in growth in November, 2012, was due to negative growth witnessed in coal, natural gas and cement sectors and drop in growth rates of electricity, steel and petroleum refinery products, according to the official data released today.

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% in April-November 2012 against 4.8% in the same period last year.

The eight industries have a weight of 37.9% in the overall Index of Industrial Production (IIP).

Production of natural gas and coal contracted by 15.2% and 4.4%, respectively in November. Cement output too shrunk by 0.2% as against 17% growth in the same month last year.

Steel and electricity production slowed to 6% and 2.3%, respectively. In the same month last year, it was 10.5% and 14.4% in that order.

Petroleum refinery output also slowed down to 6.6% against to 11.2% last year.

However, production of fertiliser and crude oil grew by 5% and 0.8% in November respectively.

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