Core sector output growth hits a 5-month low of 2.8% in May

news
01 July 2016

Core sector industrial production in the country decelerated to hit a 5-month low of 2.8 per cent in May 2016, falling from the a four-year high of 8.5 per cent in April. It was 6.4 per cent in March and 5.7 per cent in February this year.

Output in the eight core sector industries comprising coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity, which carry nearly 38 per cent of the weight of items included in the Index of Industrial Production (IIP), stood at 4.4 per cent in May 2015.

Core sector output growth, which showed a steady growing trend in April and May this year,  recorded cumulative growth of 5.5 per cent during April-May 2016-17.

Production of coal, which has a weight of 4.38 per cent in the index of industrial production, increased by 5.5 per cent in May 2016. Cumulative coal production during April-May 2016-17 increased by 2.3 per cent year-on-year.

Production of crude oil (weight of 5.22 per cent in IIP) decreased by 3.3 per cent in May 2016 while its cumulative production during April-May 2016-17 decreased by 2.8 per cent.

Production of natural gas (weight of 1.71 per cent in IIP) declined by 6.9 per cent in May 2016 while its cumulative production during April-May 2016-17 declined by 6.9 per cent.

Petroleum refinery production (weight of 5.94 per cent in IIP) increased by 1.2 per cent in May 2016 while its cumulative production during April-May 2016-17 increased by 9.0 per cent.

Fertiliser production (weight of 1.25 per cent in IIP) increased by 14.8 per cent in May 2016 while its cumulative production during April-May 2016-17 increased by 11.6 per cent over the corresponding period of the previous year.

Steel production (weight of 6.68 per cent in IIP) increased by 3.2 per cent in May 2016 while its cumulative production during April-May 2016-17 increased by 4.6 per cent.

Cement production (weight of 2.41 per cent in IIP) increased by 2.4 per cent in May 2016 while its cumulative production during April-May 2016-17 increased by 3.4 per cent.

Electricity generation (weight of 10.32 per cent in IIP) increased by 4.6 per cent in May 2016 while its cumulative production during April-May 2016-17 increased by 9.4 per cent.





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