Eight core industries’ output shrinks by 15% in June 2020

Eight core industries’ output shrinks by 15% in June 2020

Barring fertilizer, all seven sectors – coal, crude oil, natural gas, refinery products, steel, cement, and electricity – had recorded negative growth in May

Contracting for the fourth consecutive month, the output of eight core infrastructure industries shrank by 15% in June due to fall in the production of coal, crude oil, natural gas, steel, cement and electricity.

The eight core sectors had expanded by 1.2% in June 2019, data released by the Commerce and Industry Ministry on Friday showed.

Barring fertilizer, all seven sectors – coal, crude oil, natural gas, refinery products, steel, cement, and electricity – had recorded negative growth in May.

The output of coal, crude oil, natural gas, refinery products, steel, cement and electricity declined by 15.5%, 6%, 12 per cent, 8.9%, 33.8%, 6.9%, and 11%, respectively.

During April-June 2020-21, the sector’s output dipped by 24.6% as compared to a positive growth of 3.4% in the same period previous year.

These eight industries account for 40.27% in the Index of Industrial Production (IIP).

In May, the sectors’ output contracted by 22%.

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