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Output of eight core industries shrinks 1.5% in November

Output in eight core industries shrunk by 1.5 per cent in November for the fourth consecutive month on the back of a decline in crude oil, coal production and natural gas sectors

twitter-logoBusinessToday.In | December 31, 2019 | Updated 21:59 IST
Output of eight core industries shrinks 1.5% in November
Index of Eight Core Industries shrunk for the fourth month in a row

Eight core industries of India have reported a decline in output for the fourth consecutive month in November. The index of eight core industries, which compromise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), shrunk by 1.5 per cent on the back of a decline in crude oil, coal production and natural gas sectors.

The combined Index of Eight Core Industries stood at 126.3 in November 2019, which declined by 1.5per cent as compared to the index of November 2018, Ministry of Commerce and Industry said in a statement on Tuesday. The cumulative growth in these industries during the first half of the financial year 2019-20 remained stagnant in comparison to the year-ago period, government data showed.

Coal

Coal production (weight: 10.33 per cent) declined by 2.5 per cent in November 2019 over November 2018. Its cumulative index declined by 5.3 per cent during April to November 2019-20 over the corresponding period of the previous year.

Crude Oil

Crude Oil production (weight: 8.98 per cent) declined by 6 per cent in November 2019 over November 2018. Its cumulative index declined by 5.9 per cent during April to November 2019-20 over the corresponding period of the previous year.

Natural Gas

The Natural Gas production (weight: 6.88 per cent) declined by 6.4 per cent in November 2019 over November 2018. Its cumulative index declined by 3.1 per cent during April to November 2019-20 over the corresponding period of the previous year.

Refinery Products

Petroleum Refinery production (weight: 28.04 per cent) increased by 3.1 per cent in November 2019 over November 2018. Its cumulative index declined by 1.1 per cent during April to November 2019-20 over the corresponding period of the previous year.

Fertilisers

Fertilisers production (weight: 2.63 per cent) increased by 13.6 per cent in November 2019 over November 2018. Its cumulative index increased by 4 per cent during April to November 2019-20 over the corresponding period of the previous year.

Steel

Steel production (weight: 17.92 per cent) declined by 3.7 per cent in November 2019 over November 2018. Its cumulative index increased by 5.2 per cent during April to November 2019-20 over the corresponding period of the previous year.

Cement

Cement production (weight: 5.37 per cent) increasedby4.1per cent in November 2019 over November 2018. Its cumulative index declined by 0.02 per cent during April to November 2019-20 over the corresponding period of the previous year.

Electricity

Electricity generation (weight: 19.85 per cent) declined by 5.7 per cent in November 2019 over November 2018. Its cumulative index increased by 0.7 per cent during April to November 2019-20 over the corresponding period of the previous year.

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