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Eight core industries' output rose 4.4% YoY in September, data show

The cumulative output of the core sector industries in the first nine months of FY22 has risen by 16.6 percent, as compared to a 14.5 percent fall in the same period of the previous financial year.

October 29, 2021 / 06:54 PM IST
Representational image.

Representational image.

The combined output of the eight core sector industries rose by 4.4 percent in September, as compared to a year ago. The rate of growth narrowed significantly since core sector output had seen a 11.5 percent rise in August.

The data released by the commerce and industry ministry on October 30 showed production declined in just one out of the eight core sector industries - crude oil.

The eight core sectors of coal, crude oil, natural gas, refinery products, steel, cement, fertiliser and electricity have a combined weight of over 40 percent in the Index of Industrial production, or IIP.

In September, production rose the highest, rising by 27.5 percent following a 20.5 percent rise in August. Elsewhere in the energy space, crude oil production continued to contract, falling by 1.7 percent in September. Crude production has reduced for more than 18 months now but the rate of fall has continued to get smaller.

Slower growth was experienced by the petroleum refining sector, which rose 6 percent in the latest month. In August, it had grown by 9.1 percent. September saw a similar story for coal production as well, which rose by a smaller margin of 8.1 percent after the 20.6 percent rise in August.

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Production of finished steel rose by just 3 percent, following a 3.9 percent rise in August. The performance of steel which was likely to have been driven by healthy exports, exceeded forecasts, economists had said earlier.

Elsewhere in the infra space, cement production rose by a smaller margin of 10.8 percent, lower than the 36.3 percent rise seen in August.



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Subhayan Chakraborty has been regularly reporting on international trade, diplomacy and foreign policy, for the past 6 years. He has also extensively covered evolving industry and government issues. He was earlier with Business Standard newspaper.
first published: Oct 29, 2021 06:54 pm
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