Core sector growth slows down to 1.9 per cent in September

Our Bureau Updated - October 31, 2014 at 11:03 PM.

Production of crude oil, natural gas, petroleum refinery products, fertilisers fall.

crude

Growth of eight core industries slowed down to 1.9 per cent in September 2014 (year-on-year) as production of crude oil, natural gas, petroleum refinery products and fertilisers declined during the month.

The remaining four sectors - coal, steel, cement and electricity - posted a growth in production during the month, according to an official release.

The eight core industries comprise nearly 38 per cent of the weight of items included in the Index of Industrial Production (IIP). Its cumulative growth during April to September, 2014-15 was 4 per cent.

Production of crude oil declined by 1.1 per cent in September, 2014 over September, 2013. Crude oil production during the first six months of 2014-15, declined by 1.2 per cent compared to the corresponding period of the previous year.

Natural gas production declined 6.2 per cent in September 2014. In the April-September 2014-15 period, natural gas production declined by 5.9 per cent over the corresponding period of previous year.

Petroleum refinery production declined 2.5 per cent in September, 2014 over September, 2013. Its cumulative index during April-September 2014-15 declined by 2.6 per cent over the corresponding period of the previous year.

Fertilizer production declined by 11.6 per cent in September, 2014 over September, 2013. It registered no growth during April-September, 2014-15 over the corresponding period of previous year.

Coal production increased by 7.2 per cent in September, 2014 over September, 2013. In the first half of 2014-15, it posted an increase of 7.2 per cent over corresponding period of previous year.

Electricity generation, which has the greatest weight of 10.32 per cent in the index, increased by 3.8 per cent in September, 2014 over the period of September, 2013. It registered a cumulative growth of 10 per cent during April-September, 2014-15 over the corresponding period of previous year.

Steel production increased by 4 per cent in September, 2014 over September, 2013. Its cumulative index during April to September, 2014-15 increased by 2.3 per cent over the corresponding period of previous year.

Cement production increased by 3.2 per cent in September, 2014 over September, 2013. In April-September, 2014-15, cement production posted a 9.7 per cent growth.

Published on October 31, 2014 12:41