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01-Feb2019

Core sector growth slows to 2.6% in December 2018

The growth of eight core infrastructure industries slowed down to 2.6 percent in December 2018, on account of negative growth in expansion of crude oil, refinery products and fertilisers. According to data released by the ministry of Commerce and Industry, the combined Index of eight core industries stood at 132.1 in December, 2018, which was 2.6% higher compared to the index of December, 2017. Its cumulative growth during April to December, 2018-19 was 4.8%. 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 0.9% in December, 2018 over December, 2017, and its cumulative index increased by 7.8% during April to December, 2018-19 over corresponding period of the previous year. Petroleum Refinery production having 28.04% weight decreased 4.8% in December, 2018 over December, 2017, while its cumulative index surged by 4.1% during April to December, 2018-19 over the corresponding period of previous year.

The Natural Gas production having 6.88% weight increased by 4.2% in December, 2018 over December, 2017, while its cumulative index was down by 0.1% during April to December, 2018-19 over the corresponding period of previous year. Besides, Steel production having 17.92% weight jumped by 13.2% in December, 2018 over December, 2017 and its cumulative index increased by 4.7% during April to December, 2018-19 over the corresponding period of previous year. Electricity generation having 19.85% weight increased by 4.0% in December, 2018 over December, 2017 and its cumulative index increased by 6.3% during April to December, 2018-19 over the corresponding period of previous year. 

Cement production having 5.37% weight jumped 11.6% in December, 2018 over December, 2017 and its cumulative index increased by 13.9% during April to December, 2018-19 over the corresponding period of previous year. On the flip side, Fertilizer production having 2.63% weight declined by 2.4% in December, 2018 over December, 2017, and its cumulative index was down by 1.4% during April to December, 2018-19 over the corresponding period of previous year. Crude Oil production having 8.98% weight decreased by 4.3% in December, 2018 over December, 2017 and its cumulative index fell by 3.7% during April to December, 2018-19 over the corresponding period of previous year.   


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