Core industry growth falls to 2.6 percent in December

Core industry growth falls to 2.6 percent in December

Last Updated: Thu, Jan 31, 2013 13:20 hrs

New Delhi, Jan 31 (IANS) Eight core industries that include power, coal, steel and petroleum sector registered a sluggish 2.6 percent growth in December as compared to 4.9 percent growth registered in the corresponding month of the previous year, government data showed Thursday.

The core industries have registered a growth of 1.8 percent in November 2012.

During the first three quarters of the current financial year, the cumulative growth rate of the core industries was 3.3 percent compared to their growth at 4.8 percent during the corresponding period in 2011-12, according to data released by the ministry of commerce and industry.

"The decline in growth in December 2012 was on account of negative growth witnessed in the production of coal, natural gas and fertilizers," it said.

Coal output declined by 0.2 percent in December 2012 year-on-year. Production of natural gas slumped by 14.9 percent, while fertilizer output dropped by 3.8 percent during the month under review.

However, electricity generation increased by 4.4 percent, cement output grew by 3.9 percent and steel production increased by 5.2 percent year-on-year in December.

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