Growth rate of eight core sector industries declined to 1.8% in November, from 7.8% in the same month last year, due to drop in production of coal, natural gas and cement. The eight core sector industries had registered eight-month high growth of 6.5% in October 2012.
The decline in growth in November 2012 was due to negative growth witnessed in coal, natural gas and cement sectors and drop in growth rates of electricity, steel and petroleum refinery products, according to the official data released.
The cumulative expansion of the eight industries — crude oil, natural gas, cement, coal, electricity, steel, petroleum refinery products and fertilizers — was down at 3.5% in April-November 2012 against 4.8% in the same period last year. The eight industries have a weight of 37.9% in the overall Index of Industrial Production (IIP).
Production of natural gas and coal contracted by 15.2% and 4.4%, respectively in November.
No comments:
Post a Comment