Eight core industries’ output grew 5.1 per cent in September on the back of double digit increase in production of coal, petroleum refinery products and cement.

This overall performance is much better than the 2.5 per cent increase recorded in September last year and 2.3 per cent increase in August 2012.

This has raised hopes that the IIP numbers for September, which are expected around mid-November, will be much better than the 2.7 per cent growth seen in August this year.

The eight core industries – coal, crude oil, natural gas, petroleum refinery products, steel, cement and electricity – have a weightage of 37.90 per cent in the index of industrial production.

For the April-September 2012 period, the cumulative growth rate stood at 3.2 per cent, lower than the 5 per cent growth seen in same period last year, official data released on Wednesday showed.

The growth spike in September 2012 is largely attributed to the robust output growth in coal (21.4 per cent), petroleum refinery products (11.4 per cent) and cement (13.4 per cent).

Both crude oil and natural gas production declined in September on a year-on-year basis.

While steel production grew two per cent in September, fertiliser production saw growth of 5.7 per cent for the month under review.

In September 2011, steel output grew 7.1 per cent and fertilisers output declined 2.1 per cent.

Electricity generation grew 3.7 per cent in September, lower than the 8.8 per cent growth recorded in the same month last year.

srivats.kr@thehindu.co.in

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