Output of eight core industries slows to 4% in December 2024
The Ministry of Commerce & Industry in its latest data has showed that the output of eight core industries slowed down to 4 per cent in December 2024, as against 5.1 per cent growth registered a year ago. On a monthly basis, the growth rate in the production of these sectors was lower than the 4.4 per cent expansion recorded in November 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).
Crude Oil production having 8.98 per cent weight increased by 0.6 per cent in December, 2024 over December, 2023, while its cumulative index declined by 2.1 per cent during April to December, 2024-25 over corresponding period of the previous year. Steel production having 17.92 per cent weight increased by 5.1 per cent in December, 2024 over December, 2023 and its cumulative index increased by 5.8 per cent during April to December, 2024-25 over corresponding period of the previous year. Fertilizer production having 2.63 per cent weight increased by 1.7 per cent in December, 2024 over December, 2023 and its cumulative index increased by 1.6 per cent during April to December, 2024-25 over corresponding period of the previous year.
Cement production having 5.37 per cent weight increased by 4.0 per cent in December, 2024 over December, 2023 and its cumulative index increased by 3.3 per cent during April to December, 2024-25 over corresponding period of the previous year. Petroleum Refinery production having 28.04 per cent weight increased by 2.8 per cent in December, 2024 over December, 2023 and its cumulative index increased by 2.7 per cent during April to December, 2024-25 over corresponding period of the previous year. Coal production having 10.33 per cent weight increased by 5.3 per cent in December, 2024 over December, 2023 and its cumulative index increased by 6.2 per cent during April to December, 2024-25 over corresponding period of the previous year.
Electricity generation having 19.85 per cent weight increased by 5.1 per cent in December, 2024 over December, 2023 and its cumulative index increased by 5.3 per cent during April to December, 2024-25 over corresponding period of the previous year. However, Natural Gas production having 6.88 per cent weight declined by 1.8 per cent in December, 2024 over December, 2023, while its cumulative index increased by 0.7 per cent during April to December, 2024-25 over corresponding period of the previous year.
