Core sector IIP at 2.8%; lowest since January 2016

The eight core industries output growth has fallen to five-month low at 2.8% in May, 2016, as per the data released by the Ministry of Commerce & Industry on Thursday.

The eight core industries which comprise nearly 38% of the weight items in the Index of Industrial Production (IIP), grew 2.8% in May as compared to 8.5% (highest in 2016) in April.

The combined Index of Eight Core Industries stood at 183.7 in May, which was 2.8% higher as compared to the index of May 2015. But, the cumulative growth during April to May in 2016 was 5.5%.

The crude oil and Natural Gas are the only two sectors where the production has decreased.

Here's how the industries performed:

Crude Oil

Crude Oil production (weight: 5.22 %) decreased by 3.3 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 decreased by 2.8 % over the corresponding period of previous year.

Natural Gas

The Natural Gas production (weight: 1.71 %) decreased by 6.9 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 declined by 6.9 % over the corresponding period of previous year.

Fertilizer

The production of fertilizer (weight-1.25%) increased 14.8% in May, 2016 as compared to May 2015.The cumulative index during April-May, 2016 increased 11.6% over the corresponding period of previous year.

Coal

The production of coal (weight: 4.38 %) increased by 5.5 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 increased by 2.3 % over corresponding period of previous year.

Electricity

The electricity generation (weight 10.32%) increased 4.6 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 increased by 9.4 % over the corresponding period of previous year.

Steel (Alloy + Non-Alloy)

Steel production (weight: 6.68%) increased by 3.2 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 increased by 4.6 % over the corresponding period of previous year.

Cement

Cement production (weight: 2.41%) increased by 2.4 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 increased by 3.4 % over the corresponding period of previous year.

Refinery Products (93% of Crude Throughput)

Petroleum Refinery production (weight: 5.94%) increased by 1.2 % in May, 2016 over May, 2015. Its cumulative index during April to May, 2016-17 increased by 9.0 % over the corresponding period of previous year.