Core industries' growth slows to 0.1 per cent in Oct

NEW DELHI: The growth of eight core industries slowed to 0.1 per cent in October 2022, against 8.7 per cent in the corresponding month last year, according to the official data released on Wednesday.

The core industries' growth was 7.8 per cent in September 2022.

The index of eight core industries (ICI) measures combined and individual performance of production in selected eight core industries namely coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.

According to a government statement, coal production increased 3.6 per cent in October 2022, against the year-ago month, whereas crude oil production declined 2.2 per cent in October 2022 over October in the previous year.

Natural gas production declined 4.2 per cent in October 2022 over October 2021, while steel production increased 4 per cent in October 2022 over October 2021.

According to a statement from the ministry of commerce and industry, petroleum refinery production declined 3.1 per cent in October 2022, over the year-ago period, whereas cement production declined 4.3 per cent in October 2022, against the year-ago month.

Fertilisers production increased by 5.4 per cent in October 2022 over October 2021.

Lastly, electricity generation increased by 0.4 per cent in October 2022 as against the corresponding month in the previous year. Its cumulative index increased 9.3 per cent during April-October 2022-23 over the corresponding period during the previous year.