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01-Jan2019

Core sector growth hits 16-month low of 3.5% in November

The growth of eight core infrastructure industries slowed to sixteenth-month low of 3.5% in November 2018, as compared to 4.8% in October 2018, due to fall in output of crude oil and fertilisers. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 128.5 in November, 2018, which was 3.5% higher compared to the index of November, 2017. Its cumulative growth during April to November, 2018-19 was 5.1%. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity - comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). 

Among eight core sectors, Coal production having 10.33% weight rose 3.7% in November, 2018 over November, 2017, and its cumulative index increased by 9.0% during April to November, 2018-19 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight increased 2.3% in November, 2018 over November, 2017 and its cumulative index surged by 5.3% during April to November, 2018-19 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight increased by 0.5% in November, 2018 over November, 2017, while its cumulative index was down by 0.7% during April to November, 2018-19 over the corresponding period of previous year. Besides, Steel production having 17.92% weight jumped by 6.0% in November, 2018 over November, 2017 and its cumulative index increased by 3.7% during April to November, 2018-19 over the corresponding period of previous year. Electricity generation having 19.85% weight increased by 5.4% in November, 2018 over November, 2017 and its cumulative index increased by 6.7% during April to November, 2018-19 over the corresponding period of previous year.

Cement production having 5.37% weight jumped 8.8% in November, 2018 over November, 2017 and its cumulative index increased by 14.2% during April to November, 2018-19 over the corresponding period of previous year. On the flip side, Fertilizer production having 2.63% weight declined by 8.1% in November, 2018 over November, 2017, and its cumulative index was down by 1.3% during April to November, 2018-19 over the corresponding period of previous year. Crude Oil production having 8.98% weight decreased by 3.5% in November, 2018 over November, 2017 and its cumulative index fell by 3.6% during April to November, 2018-19 over the corresponding period of previous year.   


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