Core sector growth recovers a tad

November's 1.8% uptick follows Ist contraction in 15 mths; infra demand revs up steel, cement

- AUHONA MUKHERJEE

India’s core sector output recovered slightly in November to rise 1.8 percent, after recording its first contraction in 15 months this October according to revised official data, but four of the eight sectors continued to record a year-on-year dip in production, including electricity, even as cement output soared to a 26-month high.

The Ministry of Commerce and Industry, revised October’s Index of Core Industries (ICI) to reflect a 0.1 per cent year-on-year decline in output, as opposed to its earlier estimate of a flat zero per cent movement.

November’s 1.8 per cent uptick in the ICI is still the second slowest since May. Moreover, on a sequential basis, output was 0.3 per cent below October levels with five of eight sectors recording a contraction — electricity, refinery products, natural gas, crude oil and fertilisers. Barring fertilisers, the four other sectors also recorded a year-on-year decline.