Home Business Core sector growth hits 12-month high of 6.8% in Nov

Core sector growth hits 12-month high of 6.8% in Nov

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(G.N.S) Dt. 01
New Delhi
August core sector output rises by 4.9% from 2.6% in July June core sector growth falls to 0.4% from 4.1% in May Import signals raise hopes of industrial growth revival ONGC, OIL push crude oil output up by 0.24%, natural gas by 4% Railway freight loading rises 5% during Apr-Aug
The output of the eight major core sectors in the country rose by 6.8 per cent in November — more than a 12-month high — as compared to the five per cent rise seen in October.
This was primarily led by a double-digit jump in cement and steel production as well as a sustained rise in refinery products.
Data issued by the commerce and industry ministry on Monday showed the eight core segments — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity — cumulatively grew by 3.9 per cent in the first eight months (April-November) of the current financial year. This was lower than the 4.9 per cent growth in the corresponding period of 2016-17.
Economists suggested this could point to an overall industrial revival from November onwards. This will serve to be good news for the Narendra Modi government after the Index of Industrial Production (IIP) plunged to 2.2 per cent in October, slowing down for the third straight month. The IIP growth figure for September was 4.1 per cent after a 4.5 per cent rise in August.
A silver lining was that capital goods production showed a rising trend for the third straight month.

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