Growth In Core Industry Production Hits 16-Month Low

INSUBCONTINENT EXCLUSIVE:
Monday.The lowest expansion in output growth of these key industries was last recorded in July 2017 at 2.9 per cent.The growth rate of eight
infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity -- was 6.9 per cent in
November last year.Crude oil and fertiliser production recorded negative growth of 3.5 per cent and 8.1 per cent, respectively, as per
government data released Monday.The growth rate in production of natural gas, refinery products, steel, and cement sectors slowed to 0.5 per
cent, 2.3 per cent, 6 per cent, and 8.8 per cent in November, respectively.Slow growth in key sectors would also have implications on Index
of Industrial Production (IIP) number as these segments account for about 41 per cent to total factory output.However, growth in coal and
electricity output grew by 3.7 per cent and 5.4 per cent in November as against 0.7 per cent and 3.9 per cent, respectively in corresponding
period last year.During April-November this fiscal, eight core sectors free by 5.1 per cent as against 3.9 pet cent during same period last
fiscal.