5.1% Growth Registered in Core Industrial Output
The index of eight core industries was lower compared to April 2019 when it rose by 6.3 per cent, while on a year on year basis, it rose from 4.1 per cent in May 2018, a Commerce Ministry statement said
Industrial output of the eight major industries of the country grew by 5.1 per cent in May 2019, official figures showed.
Steel and electricity recorded strong growth of 19.9 per cent and 7.2 per cent respectively.
“Steel production (weight: 17.92 per cent) increased by 19.9 per cent in May 2019 over May 2018. Its cumulative index increased by 19.4 per cent during April to May 2019-20 over the corresponding period of previous year,” the statement said.
“Electricity generation (weight: 19.85 per cent) increased by 7.2 per cent in May 2019 over May 2018. Its cumulative index increased by 6.6 per cent during April to May 2019-20 over the corresponding period of previous year.”
Cement and Coal sectors have registered moderate growth of 2.8 percent and 1.8 percent respectively in the month of May 2019 over May 2018.
The production of Natural Gas has remained unchanged in the month of May 2019, with production of 2662.359 million cubic meters (MCM) as compared to May 2018.
The core sector index carries 40.27 per cent weight of the items included in the Index of Industrial Production (IIP), the ministry data showed.
The decline in growth rate compared to last month was on the back of negative growth of 1.5 per cent and 1 per cent in refinery products and fertilisers segments, respectively.