Core sector output growth slumps to 1.8 per cent in November
31 Dec 2012
Core sector industrial production in the country expanded at a slow pace of 1.8 per cent in November 2012, down from the 6.5 per cent growth recorded in October 2012.
The eight core sector industries comprising coal, crude oil, natural gas, petroleum refinery products, fertilisers, steel, cement and electricity had recorded a combined growth of 7.8 per cent in November 2011.
The index of the eight core sector industries, which have a combined weight of 37.90 per cent in the general index of industrial production (IIP) stood at 144.9 in November 2012, with a growth rate of 1.8 per cent.
The decline in growth in November 2012 was on account of negative growth witnessed in the production of coal, natural gas and cement and deceleration in growth rates of electricity, steel and petroleum refinery products.
During April-November 2012-13, the core sector industries reported cumulative growth rate of 3.5 per cent against their 4.8 per cent growth during the corresponding period in 2011-12.
Coal production, which has a weight of 4.38 per cent in the general index of industrial production, registered a negative growth of (-) 4.4 per cent in November 2012 compared to its 4.9 per cent growth in November 2011. Cumulative production of coal recorded a growth of 6.7 per cent during April-November 2012-13 compared to its negative growth of (-) 4.0 per cent during the same period of 2011-12.
Production of crude oil (weight of 5.22 per cent in IIP) grew at 0.8 per cent in November 2012 compared to its (-) 5.7 per cent growth in November 2011. Cumulatively production of crude oil recorded a negative growth of (-) 0.5 per cent during April-November 2012-13 compared to its growth of 2.9 per cent during the same period of 2011-12.
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