Core sector growth jumps to 5-month high of 6.7%

The growth rate of eight core sector industries rose to five-month high of 6.7 per cent in November on the back of better output in coal, refinery products, electricity and cement.

The eight core sector industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- grew by 3.2 per cent in November last year.

The growth rate was 6.3 per cent in October this year. The earlier high was in June when the sectors grew by 7.3 per cent.

The core sector contributes 38 per cent in the overall industrial production, a parameter that Reserve Bank of India takes into account while framing its monetary policy.

Coal, refinery products, electricity and cement production registered a growth of 14.5 per cent, 8.1 per cent, 10.2 per cent and 11.3 per cent, respectively in November, as per the data released by the Commerce and Industry Ministry.

Steel output during the month under review declined to 1.3 per cent from 10.1 per cent in the same month last year.

However, crude oil, natural gas and fertiliser were in the negative zone.

During April-November, the eight sectors grew by 4.6 per cent as against 4.1 per cent in the same period last year.