Core sector output shrinks for fourth consecutive month by 1.5% in November; refinery, fertilizers production up

New Delhi: Contracting for the fourth consecutive month, the output of eight core infrastructure industries shrank by 1.5 percent in November 2019 as five of the eight sectors witnessed negative growth, according to official data released on Tuesday.

#November Core Sector Data | Eight core industries growth at -1.5% Vs -5.8% (MoM)#coresector #macros #macroeconomics #economy #growth #output #infra pic.twitter.com/MeJe1hR9mY

— CNBC-TV18 (@CNBCTV18Live) December 31, 2019

The eight core sectors had expanded by 3.3 percent in November 2018. Production of coal, crude oil, natural gas, steel, and electricity contracted in the month under review. [caption id=“attachment_4427557” align=“alignleft” width=“380”] Representational image. Reuters[/caption] The growth rate of cement production dropped to 4.1 percent from 8.8 percent in November 2018. The output of refinery products and fertilizers increased by 3.1 percent and 13.6 percent respectively in November 2019 over the year-ago month. The core sector for October had contracted to 5.8 percent from the 5.1 percent contraction seen in September. During the April-November period, core industries recorded flat growth (zero percent) against 5.1 percent in the year-ago period. The eight core industries comprise 40.27 percent of the weight of items included in the index of industrial production (IIP). “The combined index of eight core industries stood at 126.3 in November which declined by 1.5 percent as compared to the index of November 2018. Its cumulative growth during April to November was zero percent,” according to an official statement. Since August the eight core sectors are recording negative growth. — With ANI inputs