New Delhi : Growth of the eight core sectors slowed to a five-month low, of four per cent, in December 2017, owing to the negative performance of segments like coal and crude oil, official data showed on Wednesday. The output growth recorded in December is the lowest since July 2017, when these core sectors had witnessed a 2.9 per cent expansion. These eight industries — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — had witnessed a growth of 5.6 per cent in December 2016.
Coal production declined by 0.1 per cent in December, 2017 over the same month last year, while its cumulative index increased by 1.3 per cent during April to December, 2017-18 over the corresponding period of the previous year. Crude oil production declined by 2.1 per cent in December, 2017 over December, 2016, while its cumulative index declined by 0.4 per cent during April to December, 2017-18 over the corresponding period of previous year. Natural gas production increased by 1.0 per cent in December, 2017 over December, 2016, and its cumulative index increased by 4.0 per cent during April to December, 2017-18 over the corresponding period of previous year. In terms of refinery products, Petroleum Refinery production increased by 6.6 per cent in December, 2017 over the same period last year, while its cumulative index increased by 3.9 per cent during April to December, 2017-18 over the corresponding period of previous year. Meanwhile, steel production increased by 2.6 per cent in December, 2017 over December last year, while its cumulative index increased by 6.7 per cent during April to December, 2017-18 over the corresponding period of previous year. Cement production too increased by 19.6 per cent in December, 2017 over December, 2016, and its cumulative index increased by 2.7 per cent during April to December, 2017-18 over the corresponding period of the previous financial year.
Cumulatively, the growth in the eight core sectors during the April-December period of the ongoing fiscal slowed to four per cent as against 5.3 per cent in the corresponding period of the previous fiscal. The growth in key sectors will have implications for the Index of Industrial Production (IIP) as these eight segments account for about 41 per cent of the total factory output.
