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Tuesday, January 19, 2021

Eight core industries’ output contracts 2.5% in October

The production of eight core sectors had contracted 5.5 per cent in October 2019, data released by the Commerce and Industry Ministry showed on Friday.

By: PTI | New Delhi | November 27, 2020 7:21:58 pm
A red hot steel slab passes along a rolling machine inside a steel factory in India. (Photographer: Dhiraj Singh/Bloomberg)

Contracting for the eighth consecutive month, the output of eight core infrastructure sectors dropped by 2.5 per cent in October, mainly due to decline in production of crude oil, natural gas, refinery products and steel.

The production of eight core sectors had contracted 5.5 per cent in October 2019, data released by the Commerce and Industry Ministry showed on Friday.

While coal, fertiliser, cement and electricity recorded positive growth, crude oil, natural gas, refinery products and steel registered negative growth in the month under review.

During April-October, the sectors’ output declined by 13 per cent as compared to a growth of 0.3 per cent in the same period of the previous year.

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