IIP registers positive numbers for Nov, yet low on cumulative front

New Delhi, Jan 2 (KNN) The eight core sectors including coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity registered positive trend, data from Ministry of Commerce and Industry for the month of November revealed.

The Ministry informed that the core sector grew at 6.8 per cent in the month of November as compared to the corresponding month of the previous year.

However if one was to look at the cumulative data of April-November, the figure stands at a low 3.9 per cent as compared to the 5.3 per cent growth of the corresponding period of the previous fiscal.

Sector wise data reveals that the production of coal declined by 0.2 per cent in November, however going by the cumulative index, the sector registered a growth of 1.5 per cent in comparison to the data of the corresponding month from the previous year.

Crude oil production registered an increase of 0.2 per cent whereas natural gas production increased by over 2.4 per cent.

With regard to the refinery product, the data informed that it registered an increase of 8.2 per cent in the month of November.

Sectors including Fertilizers, steel and Cement registered positive numbers of 0.3 per cent, 16.6 per cent and 17.3 per cent for the month of November, respectively.

Also the electricity generation shows positive sign with an increase of 1.9 per cent in November.

Earlier, the previous data revealed that index of Industrial Production (IIP), registered a negative trend and fell to a three-month low of 2.2 per cent on annual basis in October. (With PIB Inputs) (KNN/ MG)