Core sector growth slows to 4.3% annually in November, betters Oct numbers

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The output of eight key infrastructure sectors slowed down to 4.3 per cent in November 2024 against 7.9 per cent growth registered a year ago, according to official data released on Tuesday.

On a monthly basis, the production growth of these sectors was higher than the 3.7 per cent expansion recorded in October 2024.

In November, production of crude oil and natural gas contracted.

The production growth of coal, refinery products, fertiliser, steel, and electricity moderated to 7.5 per cent, 2.9 per cent, 2 per cent, 4.8 per cent, and 3.8 per cent, respectively, against 10.9 per cent, 12.4 per cent, 3.3 per cent, 9.7 per cent and 5.8 per cent in November last year.

However, cement output rose to 13 per cent in the month under review.

The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.2 per cent during April-November this fiscal. It was 8.7 per cent in the same period last fiscal.

The eight core sectors contribute 40.27 per cent to the Index of Industrial Production (IIP), which measures overall industrial growth.