The combined index of eight core industries was 132.1 in December 2018, 2.6% higher compared to the index in the corresponding month in 2018, the government said on Thursday. Its cumulative growth between April and December was 4.8%.
The core sector growth had hit a 16-month low of 3.5% in November.
These industries – coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity – comprise 40.27% of the weight of items included in the Index of Industrial Production, or IIP. According to the last round of data released on IIP, industrial output grew 0.5% in November 2018 compared to the same month in 2017 – the slowest in 17 months.
Coal production increased 0.9% in December compared to the corresponding month the year before while the crude oil output declined 4.3%. Natural gas production increased by 4.2%, the government said.
The production of refinery products and fertilisers fell 4.8% and 2.4% in December whereas the output of the steel and cement industries increased 13.2% and 11.6%, the government said. The production of electricity increased 4%, the data showed.
Buy an annual Scroll Membership to support independent journalism and get special benefits.
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!