Eight core industries IIP rises 2.4% in July

The IIP output of the eight core industries grew by 2.4% in July led by steel which posted the maxium growth of 9.2% during the month.

Key highlights:

IIP output of the eight core industries grew by 2.4% in July 2017 as compared to July 2016

Its cumulative growth during April to July, 2017-18 was 2.5%

Steel production increased the highest during the month as it grew by 9.2 %

The index of industrial production (IIP) output of the eight core industries grew by 2.4% as compared to July 2016, as it stood at 119.8. Its cumulative growth during April to July, 2017-18 was 2.5%.

The core industries of the IIP include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity. The Eight Core Industries comprise 40.27 % of the weight of items included in the IIP.

Steel production (weight: 17.92 %) increased the highest during the month as it grew by 9.2 % in July2017 over July 2016. Its cumulative index increased by 6.9% during April to July 2017-18 over the corresponding period of previous year.

The Natural Gas production (weight: 6.88 %) increased by 6.6% in July 2017 over July 2016. Its cumulative index increased by 4.9% during April to July 2017-18 over the corresponding period of previous year.

Electricity generation (weight: 19.85%) increased by 5.4% in July 2017 over July 2016. Its cumulative index increased by 5.4% during April to July 2017-18 over the corresponding period of previous year.

Coal production (weight: 10.33 %) increased by 0.7% in July 2017 over July 2016. Its cumulative index declined by 3.3% during April to July 2017-18 over corresponding period of the previous year.

However, crude oil, natural gas, petroleum refinery, fertilizer and cement production declined during the month.

The highest weighted out of the eight core industries, Petroleum Refinery production (weight: 28.04%), declined by 2.7% in July 2017 over July 2016. Its cumulative index increased by 0.7% during April to July 2017-18 over the corresponding period of previous year.

Crude Oil production (weight: 8.98 %) decreased by 0.5% in July, 2017 over July 2016. Its cumulative index increased by 0.05% during April to July 2017-18 over the corresponding period of previous year.

Fertilizer production (weight: 2.63 %) declined by 0.3 % in July 2017 over July 2016. Its cumulative index declined by 1.5 % during April to July 2017-18 over the corresponding period of previous year.

Cement production (weight: 5.37%) declined by 2.0% in July, 2017 over July 2016. Its cumulative index declined by 3.5% during April to July 2017-18 over the corresponding period of previous year.