Core sector growth hits five-month high to 4.5% in Feb

Core sector growth hits five-month high to 4.5% in Feb
The core industries grew 4.5 per cent in February, highest in the last five months, against 1.6 per cent in January, according to official data released on Monday showed.

"The eight core industries, which have a combined weight of 37.90 per cent in the index of industrial production (IIP), stands at 156.7 in February, 2014", as per Ministry of Commerce & Industry data.

The cumulative growth during April-February, 2013-14 stood at 2.6 per cent as against 6.4 per cent during the same period a year ago, it said.

The growth in core industries - eight core industries — fertilisers, cement, steel, electricity,crude oil, coal, petroleum refinery products and natural gas - gives an indication of revival of industrial growth in February. Among the core sectors, electricity generation reported an impressive growth while steel, cement and refinery products improved their performance during the month.

Electricity generation increased by 10.4 per cent in February, 2014 over the period of February, 2013 and it registered a cumulative growth of 5.7 per cent during April to February, 2013-14 over the corresponding period of previous year.

Steel production during the month stood at 4.8 per cent while that of cement stood at 2.3 per cent. On the other hand, refinery products rose 3.2 per cent as against a contraction of 4.5 per cent in January.

Dion Global Solutions Ltd.

Story first published: Tuesday, April 1, 2014, 9:32 [IST]
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