Published on 1/01/2018 5:13:01 PM | Source: Reuters

Eight core sectors grow 6.8% in November

Eight core sectors grew by 6.8 per cent in November 2017, mainly helped by a robust performance in segments like refinery, steel and cement, official data showed today. The eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- had witnessed a growth of 3.2 per cent in November 2016.

The output of refinery products, steel and cement rose by 8.2 per cent, 16.6 per cent and 17.3 per cent, respectively on an annual basis, according to the data released by the commerce and industry ministry. Crude oil and natural gas output too registered a positive growth during the month under review. On the other hand, coal output recorded a negative growth during the month.

Cumulatively, the growth in the eight core sectors during April-November this fiscal slowed to 3.9 per cent as against 5.3 per cent in the same period last fiscal. A healthy growth in key sectors will have positive implications on the Index of Industrial Production (IIP) as these eight segments account for about 41 per cent of the total factory output.