In­dia's core sec­tor growth slows down to 0.9pc in Dec

The Pak Banker - - MARKETS/SPORTS -

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.

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