IIP May 2014

The core sector growth spike in April petered out in May as output of eight core industries slowed to 2.3 per cent from 5.9 per cent in the same month a year ago.
During the month, crude oil output shrank 0.3 per cent, natural gas output declined by 2.2 per cent, refinery products were down 2.3 per cent and steel production was 2 per cent lower.
The eight core sector industries had decelerated 2.6 per cent in 2013-14, the lowest in almost a decade. However, a 4.2 per cent growth in April had raised the hopes of a recovery.
The output of coal, fertilizers, cement and electricity went up by 5.5 per cent, 17.6 per cent, 8.7 per cent and 6.3 per cent, respectively, the official release said.
The eight core industries have a combined weight of 37.90 per cent in the Index of Industrial Production (IIP).
The bad news on the core sector front comes at a time when rains during the month of June have been declared to be 43 per cent deficient.