SME Times News Bureau | 23 Jan, 2010
Six key sectors of the economy grew by 6 percent in December compared with 0.7 percent in the same month of the previous year, according to official data released on Friday.
For the April-December 2009-10 period, the six core industries, having a combined weight of 26.7 percent in the official index of industrial production, grew by 4.8 percent, which was better than the 3.2 percent year-on-year increase during the corresponding nine months of 2008-09.
Cement (weight of 1.99% in the IIP) remained at top of the chart registering a growth of 11% in December 2009 compared to 11.6% in December 2008. Cement Production grew by 11% during April-December 2009-10 compared to an increase of 6.6% during the same period of 2008-09.
Finished (carbon) Steel production (weight of 5.13% in the IIP) registered a growth of 9.6% in December 2009 compared to (-) 8% (estimated) in December 2008. Finished (carbon) Steel production grew by 3.6% during April-December 2009-10 compared to an increase of 1.7% during the same period of 2008-09.
Electricity generation (weight of 10.17% in the IIP) registered a growth of 5.4% in December 2009 compared to a growth rate of 1.5% in December 2008. Electricity generation grew by 6% (provisional) during April-December 2009-10 compared to 2.7% during the same period of 2008-09.
However, oil production--both crude and refinery--and coal output remained sluggish, which may come in the way of economic activities.
Crude Oil production (weight of 4.17% in the IIP) registered a growth of 1.1% in December 2009 compared to a growth rate of (-) 0.3% in December 2008. The Crude Oil production registered a growth of (-) 1.1% during April-December 2009-10 compared to (-) 0.5% during the same period of 2008-09.
Petroleum refinery production (weight of 2.00% in the IIP) also registered a flat growth of 0.9% in December 2009 compared to growth of 3% in December 2008. The Petroleum refinery production registered a growth of (-) 1% during April-December 2009-10 compared to 3.7% during the same period of 2008-09.
Coal production (weight of 3.2% in the IIP) registered a growth of 2.5% in December 2009 compared to growth rate of 11.2% in December 2008. Coal production grew by 8.3% (provisional) during April-December 2009-10 compared to an increase of 9.9% during the same period of 2008-09.
The six sectors have a weight of 26.7 percent in the index of industrial production (IIP) that measures country's factory output.