December 31, 2015 6:04 PM

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Core sector output contracts by 1.3% in November

The index of eight core industries contracted by 1.3 per cent in November as against 8.5 per cent growth in the same month last year. According to the data released by the Ministry of Commerce and Industry today, the decline in the growth was mainly due to low growth witnessed in the production of crude oil, natural gas, steel and cement. The crude oil production fell by 3.3 per from minus 0.1 per cent and natural gas by 3.9 per cent from minus 2.3 per cent a year ago. The growth in coal, refinery products and electricity generation output too slowed down to 3.5 per cent, 2.5 per cent and 0 per cent. However, fertiliser production grew by 13.5 per cent in November from minus 2.8 per cent in the same month last year. The cumulative growth rate in April-November was 2 per cent, much lower than 6 per cent in the first eight months of the last fiscal. Last time, it was in April when sectors in negative zone and they shranked by 0.4 per cent, while the rate of growth rate in October was 3.2 per cent.

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