Core sector growth falls to 13 month low in February 2017

Growth of the country’s eight core sectors slipped to an over one-year low of 1% in February 2017. This was mainly due to a fall in output of crude oil, natural gas, refinery products, fertiliser and cement. The eight core sectors had expanded 9.4% in February 2016, and 3.4% in January 2016. In February 2016, crude oil output contracted 3.4%, natural gas output by 1.7%, refinery products output fell 2.3%, fertiliser output declined 5.3%, and cement output dropped 15.8%. But coal and steel production recorded positive growth during the month. The eight core industries comprise close to 37.9% of the weight of items included in the Index of Industrial Production (IIP). The electricity has the maximum weight (of 10.32%) among the eight sectors followed by Steel (6.68%), Petroleum Refinery (5.94%), Crude Oil production (5.22 %), Coal production (4.38 %), Cement (2.41%), Natural Gas production (1.71 %) and Fertilizer production (1.25%).