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India's core sector growth slows down to 16-month low of 3.5% in November

India's core sector growth slows down to 16-month low of 3.5% in November

The previous slowest pace in production growth of these key industries was recorded at 2.9 per cent in July 2017.

The growth of eight infrastructure sectors slowed down to 3.5 per cent in November, the lowest in the last 16 months, dented by slump in the production of crude oil and fertilisers, according to an official data.

The eight core industries, which comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), was recorded at 6.9 per cent in November last year, showed data published by Ministry of Commerce & Industry on Monday.

The previous slowest pace in production growth of these key industries was recorded at 2.9 per cent in July 2017.

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The cumulative growth of eight infrastructure sectors, which include coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, during April to November period was 5.1 per cent from 3.2 per cent in the year-ago period, the data showed.

The combined index of eight core industries stood at 128.5 in November, 2018, compared to 124.1 in the same period last year.

Sector wise, coal, cement and steel production increased by 3.7 per cent, 8.8 per cent and 6 per cent, respectively.

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Meanwhile, the output of crude oil and fertilisers declined by 3.5 per cent and 8.1 per cent, respectively.

During the month under review, petroleum refinery production rose 2.3 per cent on year-on-year basis and natural gas production grew merely by 0.5 per cent.

Edited by Chitranjan Kumar