India's core sectors post decline

India’s core sectors post decline

The growth rate of India's core industries fell from 5.7 percent in November 2004 to 3 percent in November 2005 due to the decline in crude oil and steel. Crude oil production fell sharply 8.6 percent in November. In addition, steel production growth fell from 10.2 percent a year earlier to 5.3 percent in November. On the other hand, only petroleum refining output posted a higher growth, increasing from 1 percent a year earlier to 1.3 percent last month.