The eight core industries, which include coal, cement, natural gas, petroleum refinery and fertilisers, had recorded a growth rate of 6.3 per cent in December 2010.

This is the second lowest growth rate of the core industries in 2011-12 after October when the infrastructure sectors had expanded by just 0.3 per cent.

For the April-December this fiscal, the growth was lower at 4.4 per cent compared to 5.7 per cent in the corresponding period of 2010-11 in wake of deceleration in investment.

The eight industries together contribute 37.9 per cent in the overall Index of Industrial Production (IIP).

As per the data released by Commerce and Industry Ministry, crude oil production contracted by 5.6 per cent in December against 15.8 per cent in the same month last year.

Natural gas production too contracted by 10.8 per cent against (-) 0.2 per cent year-on-year.

In December, the petroleum refinery output slowed to 0.8 per cent (from 8.3 per cent) and steel to 2.2 per cent (from 9.4 per cent).

On the other hand, coal output was up by 5.6 per cent in December this fiscal from 3.8 per cent year-on-year.

Fertilisers segment expanded by 0.8 per cent (from 0.3 per cent), cement by 13.3 per cent (from minus 2.2 per cent) and electricity by 8 per cent (from 5 per cent).

Concerned over slowing economic activities in the country, Finance Minister Pranab Mukherjee in Chicago had said one of the key objective in the current year is to rejuvenate the markets and improve the business sentiments which have been at low levels for most of the last year.