Core industries' growth slows to 1.9% in September; lowest in 8 months

New Delhi: Growth of the eight core industries in September plummeted to 1.9 percent, the slowest pace in eight months, against 9 percent in the same month last year due to fall in output of crude oil, natural gas, refinery products and fertiliser.

Crude oil, natural gas, refinery products and fertiliser output have registered a drop of 1.1 percent, 6.2 percent, 2.5 percent and 11.6 percent respectively in the month under review, according to the data released by Commerce and Industry Ministry.

[caption id=“attachment_106767” align=“alignleft” width=“300”]  AFP image.[/caption]

Expansion in other four sectors - coal, cement, steel and electricity - too slowed down to 7.2 percent, 3.2 percent, 4 percent and 3.8 percent respectively in September this year against 13.6 percent, 12.1 percent, 10.7 percent and 12.9 percent rise in September 2013 respectively.

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In January 2014, the eight core industry index registered an overall growth of 1.6 percent.

During April-September, the eight sectors grew by 4 percent, against 5 percent in the year-ago period. The September figures would have impact on overall industrial production as the eight core sectors have a combined weight of about 38 per cent in the Index of Industrial Production (IIP).

PTI