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Core sector growth dips to 1.8% in November

Core sector growth dips to 1.8% in November
The growth of eight core industries dipped to 1.8% in November when compared to their 7.8% growth in November 2011.

The Eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP).

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 cumulative growth rate of the Core industries was 3.5 % as against their growth at 4.8% during the corresponding period in 2011-12.

Coal production (weight: 4.38%) registered a growth of (-) 4.4% in November 2012 compared to its growth at 4.9% in November 2011.

Crude Oil production (weight: 5.22%) registered a growth of 0.8% in November 2012 compared to its (-) 5.7% growth in November 2011.

Electricity generation grew 2.3 per cent in November, lower than the 14.4 per cent growth recorded in the same month last year.

Read more about: iip economy
Story first published: Tuesday, January 1, 2013, 10:34 [IST]
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