Pulled down by the contraction in crude oil and natural gas production, the eight core industries’ output growth slowed down to 3.7 per cent in August, lower than 6.1 per cent growth recorded in August last year.
But, the latest monthly performance is a five-month high and better than the 3.1 per cent growth seen in July this year.
For April-August, eight core industries’ output grew 2.3 per cent, much lower than the 6.3 per cent recorded in same period last year. The eight core industries have a weightage of about 38 per cent in the Index of Industrial Production.
For August 2013, crude oil and natural gas production contracted by 1.5 per cent and 16.1 per cent, respectively. Refinery products expanded by 4.9 per cent (31.8 per cent)
Cement output grew 5.5 per cent, while steel production grew 4.3 per cent.
Coal and electricity production grew 5.5 per cent (11.8 per cent) and 6.7 per cent (1.9 per cent), respectively, in July 2012. Fertiliser output grew 1.7 per cent (-2.1 per cent).