Eight Core Industries' See Modest Rise In November

Eight core infrastructure industries saw a modest rise in November but declined on a monthly basis.

The index of eight core industries rose 3.1% year-on-year in November, compared with a rise of 8.4% in October, according to data released by the government on Friday. The index contracted by 4.1% month-on-month, compared to a rise of 8.3% in October.

"Core sector growth deflated to a lower than expected 3.1% in November 2021 adding further evidence that the momentum slackened after the festive season amidst supply disruptions in parts of Southern India related to heavy rainfall," Aditi Nayar, chief economist at ICRA, said.

Coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity count among the core sectors, comprising 40% of the Index of Industrial Production.

Break-Up Across Eight Core Sectors (Year-on-Year)

• Coal output rose 8.2% compared to a rise of 14.7% in October.

• Crude oil output fell 2.2% after falling 2.2% last month.

• Natural gas output increased 23.7% compared to a rise of 25.8%.

• Refinery products rose 4.3% after a rise of 14.4% in the previous month.

• Fertiliser production rose 2.5% after remaining flat last month.

• Steel output inched up 0.8% compared to a rise of 4.5% last month.

• Cement declined by 3.2% after having risen by 14.5% in the previous month.

• Electricity output rose 1.5% compared to a rise of 3.2% in October.