India's core sector growth slows down to 0.9pc in Dec
The growth of eight core sectors slowed down to 0.9% in December 2015 from 3.2% in the same month of previous year as production of crude oil, natural gas and steel sectors declined. The eight core or infrastructure industries are coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.
The December production numbers are, however, better than those in November which witnessed the worst performance in seven months with the output of eight sectors contracting by 1.3%. The eight core sectors have nearly 38% weight in the Index of Industrial Production (IIP) which gauges overall industrial output growth.
The cumulative growth of core sectors in April-December period of 2015-16 came in at 1.9%, lower than 5.7% in the first nine months of the last financial year. According to the data released by the ministry of commerce and industry, crude oil, natural gas and steel recorded negative growth in December 2015.
Production of crude oil declined by 4.1%, natural gas by 6.1% and steel by 4.4% in the month under review.