India's Six Core Industries Register 3.5% Growth In October

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India's six core industries grew 3.5% in October 2009 compared to 2% in October 2008, said the government data. The cumulative growth from April-October 2009 period registered a growth of 4.7% as against 3.3% in the year ago period.

Of the six industries classified as core industries, five industries registered nominal growth while one industry recorded a negative growth during October.

Petroleum refinery production reported a growth of 7.2% in October 2009 compared to growth of 5.0% in October 2008. However, for the April-October period, petroleum refinery production fell 2% in comparison to a 4.5% increase in the corresponding period last year.

Coal production grew 5.0% in the month under review compared to 10.6% in October 2008. Coal production increased 10.2% during April-October 2009-10 compared to an increase of 9.4% during the corresponding period of 2008-09.

Electricity generation increased 4.7% in October 2009 up from a growth rate of 4.4% in October 2008. Electricity generation grew by 6.5% during the first seven month period of 2009-10 compared to 2.8% during the same period of 2008-09.

Cement production registered a growth of 5.3% in October 2009 compared to 6.2% in October 2008. Cement Production rose11.3% during April-October 2009-10 from a growth of 5.6% during the same period of 2008-09.

Finished (carbon) Steel production grew 1.1% in the month as against a contraction of 4.9% in October 2008. Finished (carbon) Steel production grew by 2.7% during April-October 2009-10 compared to an increase of 2.0% during the same period of 2008-09.

The crude production in October 2009, however, contracted 2.2% compared to a decline of 0.2% in the same month last year. The cumulative crude production for the April-October period of 2009 dropped 1.7% as against 0.7% in the April-October period of 2008.

(Market News Provided by RTTNews)