Core sector growth slows to 2.3 pc in November | business | Hindustan Times
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Core sector growth slows to 2.3 pc in November

business Updated: Dec 30, 2010 17:21 IST

The growth of six infrastructure industries slowed to 2.3 % in November, the lowest in the current fiscal, mainly due to contraction in production of cement and petroleum refinery products.

The six core sectors -- crude oil, petroleum refinery products, coal, electricity, cement and finished steel -- had expanded by 5.9 % in November 2009.

Petroleum refinery output contracted by 3.7 % and that of cement by 11.6 % in November, data released by the industry ministry today revealed. The refinery production had expanded by 4.8 % and cement by 9 % in November 2009.

Coal production too witnessed a sluggish growth of 0.7% this November against 4.7 % in the comparable month last year.

Growth in the finished steel sector too was slow. The data said that it expanded by 4.4 % in November as compared to 11.7 % in the same month last year.

However, the crude oil production witnessed a significant jump as it expanded by 17 % in the penultimate month of 2010. The sector had contracted by 1.6% in November 2009.

During April-November the core sector, which contribute about 27 % in IIP, grew by 5 %, against 4.5 % in same period of 2009-10.

Meanwhile, the growth figure for October has been revised upwards to 8.6 % from the earlier 7 %.