ECONOMY

Core sector grows by 3.1% in November Y-o-Y, led by coal output growth of 8.2%

Output of eight core sectors in November grew by 3.1 per cent year-on-year (Y-o-Y), according to data released on Friday. It had grown by 7.5 per cent in October 2021 and contracted by 1.1 per cent in November 2020. 


Production of sectors, including coal, natural gas, refinery products, fertilisers and steel and electricity had increased in November 2021 over the corresponding period of last year, data showed. 


Production of coal increased by 8.2 per cent in November 2021 over that of the corresponding period last year. In October, coal production had grown by 14.6 per cent Y-o-Y. Crude oil production declined by 2.2 per cent in November. It had declined by a similar proportion in October as well. 


Production of petroleum refinery products rose by 4.3 per cent in November Y-o-Y. In October, the production in this industry had grown by 14.4 per cent over that of the corresponding period last year. Cement production saw a decline of 2.2 per cent in November, while it had grown by 11.3 per cent Y-o-Y in October. 


The growth rate of these infrastructure industries in the period between April and November stood at 13.7 per cent (provisional) Y-o-Y. 


The Index of Core Industries measures the output of eight infrastructure sectors: coal, steel, cement, fertiliser, electricity, natural gas, refinery products and crude oil. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), making it a lead indicator of industrial activity. 


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