Core sector growth slows to 4 per cent in September
28 Oct 2009
The six core sector industries comprising crude oil, petroleum refinery products, coal, electricity, cement and finished steel, recorded a growth of 4.0 per cent (provisional), in September 2009, same as in September 2008, but down from a high of 7.1 per cent recorded in August this year.
The decline in core sector growth has been attributed to lower production of cement and coal.
The core sector index having a combined weight of 26.7 per cent in the index of industrial production (IIP) with base 1993-94 stood at 246.7 (provisional) in September 2009.
During April-September 2009-10, the six core sector industries recorded a growth of 5.0 per cent (provisional) as against 3.4 per cent during the corresponding period of the previous year.
Crude oil production (weight of 4.17 per cent in the IIP) registered a negative growth at (-) 0.5 per cent (provisional) in September 2009 against (-) 0.4 per cent registered in September 2008. For the April-September period, crude production was down 1.2 per cent (provisional) against (-) 0.8 per cent during the same period of 2008-09.
Petroleum refinery production (weight of 2.0 per cent in the IIP) recorded a growth of 3.4 per cent (provisional) in September 2009 compared to growth of 2.8 per cent in September 2008. Petroleum refinery production was down 3.6 per cent (provisional) during April-September 2009-10 compared to growth of 4.5 per cent during the same period of 2008-09.
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