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Core sectors' output falls 2.6% in November

Out of the eight sectors, only coal, fertiliser, and electricity showed positive growth, while production in crude oil, natural gas, steel, refinery products, and cement remained in negative territory

twitter-logoBusinessToday.In | December 31, 2020 | Updated 19:24 IST
Core sectors’ output falls 2.6% in November

Outputs in eight core sectors shrank for the ninth consecutive month in November this year, dropping by 2.6 per cent. This is predominantly attributed to a decline in the production of natural gas, refinery products, steel, and cement.

As for November 2019, the collective production of these eight core sectors had recorded a growth of 0.7 per cent as per the data released by the Commerce and Industry Ministry on Thursday.

Out of the eight sectors, only coal, fertiliser, and electricity showed positive growth, while production in crude oil, natural gas, steel, refinery products, and cement remained in negative territory.

Crude oil output declined by 4.9 per cent this November, while that of natural gas, refinery products, steel, and cement declined 9.3 per cent, 4.8 per cent, 4.4 per cent, and 7.1 per cent, respectively. Fertiliser sector showed a degrowth at 1.6 per cent this November, while it grew 13.6 percent last year.

Also Read: Energy demand improves in November, but at a sluggish pace: Ind-Ra report

Output of the coal and electricity sectors grew 2.9 per cent and 2.2 per cent respectively in November 2020, mainly attributed to the onset of winters in the northern parts of the country.

In the eight-month period from April to November, the sectors' output dropped by 11.4 per cent as against a 0.3 per cent growth in the same period in 2019.

The output of these eight core industries amounts to 40.27 per cent of the Index of Industrial Production (IIP).

Also Read: Adani Green Energy share rises 4% after firm commissions 100 MW solar plant in Gujarat

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