Eight core industries output growth slows down to 1.7% in Nov

Posted By: Religare
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Eight core industries output growth slows down to 1.7% in Nov
The output of Eight Core Industries, which have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP), grew by 1.7 per cent in the month of November 2013 as compared to 5.8 per cent in the month of November 2012.

Eight core industries—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity—had reported shrinkage of 0.6 per cent in their output in the previous month ended October 2013.

Coal output recorded a growth of 2.3 per cent during the month; Crude Oil output increased by 1.1 per cent; Fertilizer production was up 0.6 per cent; Steel production increased 3.9 per cent; Cement output rose 4.2 per cent; and Electricity generation increased by 5.9 per cent in November, 2013 over the period of November, 2012.

Natural Gas production remained the biggest drag on eight core industries index. Natural Gas production fell sharply by 11.3 per cent in November 2013 compared with year ago period. Petroleum refinery production also moderated by 5 per cent during the month under review, said the data released by Ministry of Commerce and Industry.

In the April-November 2013 period, the eight core industries' output grew 2.5 per cent, as against 6.7 per cent in the same period last fiscal.

Dion Global Solutions Ltd.

Read more about: iip, coal, crude oil, refining, fertilizer, cement
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