Core Sector Growth at 3-Month High of 7.4% in Dec | Economy News
New Delhi: Production of eight infrastructure sectors rose at a three-month high of 7.4 percent in December 2022 against 4.1 percent in the same month of the previous year on a better show by coal, fertilizer, steel, and electricity segments, according to the official data released on Tuesday.
Crude oil output, however, contracted by 1.2 percent in December last year. The production of eight key sectors rose by 5.7 percent in November 2022. (Also Read: Planning to Get a Credit Card? Here are Exciting Options You Should Consider in 2023)
The growth rate of eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity — stood at 8 percent in April-December this fiscal as against 12.6 percent during the same period last fiscal. (Also Read: Golden Chance to Take Loan on Zero Interest! THIS Govt Scheme Offers Loan Without Guarantee)
The production of coal rose by 11.5 percent, fertiliser by 7.3 percent, steel by 9.2 percent, and electricity by 10 percent in December 2022 compared to a year ago.
Core sector or key infrastructure industries, which have a 40.27 percent weight in the overall index of industrial production (IIP), also have a bearing on industrial production data.
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