Core sector growth slows to 4% in Dec
Output growth recorded in December is the lowest since July 2017, when these core sectors had witnessed a 2.9% expansion
09:04 pm
Festive demand and waning impact of GST may push IIP higher in coming monthsGrowth of the eight core sectors slowed to a five-month low of 4 per cent in December 2017 due to negative performance of segments like coal and crude oil, official data showed today.
The output growth recorded in December is the lowest since July 2017, when these core sectors had witnessed 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.
The output of coal and crude oil sectors contracted 0.1 per cent and 2.1 per cent respectively during the month under review.
Growth in steel and electricity generation slowed to 2.6 per cent and 3.3 per cent respectively in December last year as against 15.9 per cent and 6.4 per cent in the same month of 2016.
Refinery products, natural gas, fertiliser and cement recorded healthy growth last month.
Cumulatively, the growth in the eight core sectors during April-December this fiscal slowed to 4 per cent as against 5.3 per cent in the same period last 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.
