11-01-2022 03:00 PM | Source: Accord Fintech
Output of eight core sectors expands by 7.9% in September
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The output of eight core industries expanded by 7.9 per cent in September 2022-- the highest in three months -- on account of better show by coal, fertiliser, cement and electricity segments. In September last year, the growth rate stood at 5.4 per cent. It was 4.1 per cent in August. The previous high was in June when the output expanded by 13.1 per cent. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).

Coal production having 10.33 per cent weight increased by 12.0 per cent in September, 2022 over September, 2021 and its cumulative index increased by 21.0 per cent during April to September, 2022-23 over corresponding period of the previous year. Petroleum Refinery production having 28.04 per cent weight increased by 6.6 per cent in September, 2022 over September, 2021 and its cumulative index increased by 10.1 per cent during April to September, 2022-23 over the corresponding period of previous year. Fertilizers production having 2.63 per cent weight increased by 11.8 per cent in September, 2022 over September, 2021 and its cumulative index increased by 11.5 per cent during April to September, 2022-23 over the corresponding period of previous year.

Steel production having 17.92 per cent weight increased by 6.7 per cent in September, 2022 over September, 2021 and its cumulative index increased by 6.4 per cent during April to September, 2022-23 over the corresponding period of previous year. Cement production having 5.37 per cent weight increased by 12.1 per cent in September, 2022 over September, 2021 and its cumulative index increased by 10.9 per cent during April to September, 2022-23 over the corresponding period of previous year. Electricity generation having 19.85 per cent weight increased by 11.0 per cent in September, 2022 over September, 2021 and its cumulative index increased by 10.7 per cent during April to September, 2022-23 over the corresponding period of previous year.

However, Crude Oil production having 8.98 per cent weight declined by 2.3 per cent in September, 2022 over September, 2021 and its cumulative index declined by 1.3 per cent during April to September, 2022-23 over the corresponding period of previous year. Natural Gas production having 6.88 per cent weight declined by 1.7 per cent in September, 2022 over September, 2021, while its cumulative index increased by 1.8 per cent during April to September, 2022-23 over the corresponding period of previous year.