Eight Core Sectors Growth Rise 5.5% in February, Highest in 11 Months

Eight core sector industries recorded a growth of 5.5% in February, the highest in 11 months, mainly due to healthy expansion in output of coal, refinery products and electricity, according to a government data released on Tuesday.

The eight core sector industries — coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity — had expanded by 2.2% in February last year.

Last time, it was in March 2019 when these eight sectors recorded a growth of 5.8%. In January this year, these sectors grew by 1.4%.

These industries comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP).

Output of coal, refinery products and electricity grew by 10.3%, 7.4%, and 11%, respectively, during the month under review.

However, crude oil, natural gas, and steel recorded negative growth rate in February. Fertiliser and cement output grew by 2.9% and 8.6%, respectively.

For April-February period, the eight sectors growth rate declined to 1% as against 4.2% in the same period last year.