India's industrial production declines 0.1 percent in Nov

Eight core industries that have a combined weight of 37.90 percent in the index of industrial production (IIP) logged a negative 0.1 percent growth year-on-year in November 2012. In the corresponding month of 2011, these industries had registered a growth of 6 percent.

The eight core industries are coal, crude oil, natural gas, petroleum refinery products, fertilizers, steel, cement and electricity.

These had logged a 8.2 percent growth in October, led by a rebound in manufacturing, power and higher output of capital as well as consumer goods.

The cumulative growth of the core industries during April-November 2012-13 was 1 percent as compared to 3.8 percent growth registered during the corresponding period of the previous fiscal, according to data released by the commerce and industry ministry.

The manufacturing output marginally grew by 0.3 percent during the month under review as compared to 6.6 percent registered during the corresponding month of 2011.

The cumulative figures about the manufacturing industry showed an increase of 1 percent in April-November, 2012, as compared to 4.2 percent growth registered in the same period last fiscal.

The mining sector registered a negative growth. The sector, which has 10.32 percent weight in the IIP, registered a decline of 5.5 percent in November this year as compared to 3.5 percent decline in the corresponding month of the previous year.

The electricity sector, however, grew by only 2.4 percent compared to 14.6 percent increase during the year-ago period.