Output of eight core industries slows down to 3.1% in October
The Ministry of Commerce & Industry in its latest data has showed that the output of eight core industries expanded by 3.1 per cent in October 2024, sharply down from a 12.7 per cent growth registered in the same month last year. On a monthly basis, the production growth of these sectors was higher than the 2.4 per cent expansion recorded in September 2024. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Steel production having 17.92 per cent weight increased by 4.2 per cent in October, 2024 over October, 2023 and its cumulative index increased by 5.9 per cent during April to October, 2024-25 over corresponding period of the previous year. Fertilizer production having 2.63 per cent weight increased by 0.4 per cent in October, 2024 over October, 2023 and its cumulative index increased by 1.5 per cent during April to October, 2024-25 over corresponding period of the previous year. Cement production having 5.37 per cent weight increased by 3.3 per cent in October, 2024 over October, 2023 and its cumulative index increased by 1.8 per cent during April to October, 2024-25 over corresponding period of the previous year.
Petroleum Refinery production having 28.04 per cent weight increased by 5.2 per cent in October, 2024 over October, 2023. Its cumulative index increased by 2.7 per cent during April to October, 2024-25 over corresponding period of the previous year. Coal production having 10.33 per cent weight increased by 7.8 per cent in October, 2024 over October, 2023 and its cumulative index increased by 6.2 per cent during April to October, 2024-25 over corresponding period of the previous year. Electricity generation having 19.85 per cent weight increased by 0.6 per cent in October, 2024 over October, 2023 and its cumulative index increased by 5.3 per cent during April to October, 2024-25 over corresponding period of the previous year.
However, Natural Gas production having 6.88 per cent weight declined by 1.2 per cent in October, 2024 over October, 2023, while its cumulative index increased by 1.5 per cent during April to October, 2024-25 over corresponding period of the previous year. Crude Oil production having 8.98 per cent weight declined by 4.8 per cent in October, 2024 over October, 2023 and its cumulative index declined by 2.5 per cent during April to October, 2024-25 over corresponding period of the previous year.
