Eight core industries’ output growth slows to 2.6% in Dec 2018

Eight core industries’ output growth slows to 2.6% in Dec 2018

Economy

News: The article discusses the performance of 8 core industries.

Facts:

• The eight core industries’ output growth fell for the second straight month to touch 2.6% in December 2018.
• This was lower than both the 3.8 per cent growth recorded in December 2018 and the 3.4 per cent growth in November 2018.

• Steel and cement continue to be the leading sectors due to improved government spending in these sectors, with double digit growth in December 2018.
• The performance of energy sectors (crude oil, natural gas)has not been up to the mark, due to lower crude oil prices, which impacts crude oil production as well as exports of refinery products.
• Both power and coal production have witnessed slower growth as the initial impetus of some government schemes has reduced.
• Imports of coal have also been higher, which have replaced domestic production.