Eight infra sectors' growth dips to 1.8% in Nov
Growth rate of eight core sector industries declined to 1.8 per cent in November, from 7.8 per cent 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 per cent in October 2012.
December 31, 2012 / 20:33 IST
Growth rate of eight core sector industries declined to 1.8 per cent in November, from 7.8 per cent 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 per cent 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 fertilisers -- was down at 3.5 per cent in April-November 2012 against 4.8 per cent in the same period last year. The eight industries have a weight of 37.9 per cent in the overall Index of Industrial Production (IIP).Also Read:Stock market hopes for rate cuts, more reforms in 20132013 outlook: Period of uncertainties, mixed cuesProduction of natural gas and coal contracted by 15.2 per cent and 4.4 per cent, respectively in November. Cement output too shrunk by 0.2 per cent as against 17 per cent growth in the same month last year. Steel and electricity production slowed to 6 per cent and 2.3 per cent, respectively.In the same month last year, it was 10.5 per cent and 14.4 per cent in that order. Petroleum refinery output also slowed down to 6.6 per cent against to 11.2 per cent last year. However, production of fertiliser and crude oil grew by 5 per cent and 0.8 per cent in November respectively. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
