Core sector looks up with 2.7% growth in November

Core sector industrial production in the country grew 2.7 per cent in November 2013, reversing a 0.6 per cent decline in October 2013, showing signs of some improvement in business outlook despite the slow progress on infrastructure projects.

The eight core sector industries comprising coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity recorded a growth of 2.7 per cent in October 2013.

The index of core sector industries (base 2004-05=100), having a weight of 37.90 per cent in the general index of industrial production (IIP), stood at 153.5 in November 2013, which was 1.7 per cent higher compared to the index of November 2012.

Coal production (having a weight of 4.38 per cent in the IIP) grew 2.3 per cent in November 2013 over November 2012.

Cumulative index during April- November 2013-14 increased by 1.5 per cent over the corresponding period of the previous year.

Crude oil production (weight of 5.22 per cent in IIP) increased by 1.1 per cent in November 2013 over November 2012. The cumulative index of crude production during April-November 2013-14 moderated by 0.9 per cent over the corresponding period of the previous year.

Production of natural gas (weight of 1.71 per cent in IIP) declined by 11.3 per cent in November 2013 over November 2012. Its cumulative index during April-November 2013-14 declined by 15.6 per cent over the corresponding period of the previous financial year.

Petroleum refinery production (weight of 5.94 per cent in IIP) moderated by 5.0 per cent in November 2013 over November 2012.

Its cumulative index during April-November 2013-14 increased by 2.6 per cent over the corresponding period of the previous year.

Fertilizer production (weight of 1.25 per cent in IIP) posted a growth of 0.6 per cent in November 2013 over November 2012 and recorded a cumulative growth of 2.5 per cent during April-November 2013-14 over the corresponding period of previous year.

Steel production (weight of 6.68 per cent in IIP) recorded a growth of 3.9 per cent in November 2013 over November 2012. Cumulative growth during April-November 2013-14 was 4.3 per cent over the corresponding period of the previous year.

Cement production (weight of 2.41 per cent in IIP) increased by 4.2 per cent in November 2013 over November 2012 while cumulative growth during April-November 2013-14 stood at 4.0  per cent over the corresponding period of the previous year.

Electricity generation (weight of 10.32 per cent in IIP) increased by 5.9 per cent in November 2013 over November 2012 and recorded a cumulative growth of 5.0 per cent during April-November 2013-14 over the corresponding period of the previous year.