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economy | IST

Core sector output shrinks 5.8% in October; six of eight core industries see contraction

As many as six of eight core industries saw a contraction in output in October.Coal production fell steeply by 17.6 percent, crude oil by 5.1 percent, and natural gas by 5.7 percent.

Output of eight core infrastructure industries contracted by 5.8 percent in October, indicating the severity of economic slowdown, according to the government data released on Friday.
As many as six of eight core industries saw a contraction in output in October.
Coal production fell steeply by 17.6 percent, crude oil by 5.1 percent, and natural gas by 5.7 percent.
Production of cement (- 7.7 percent), steel (- 1.6 percent), and electricity (- 12.4 percent) also declined during the month.
The only sector that posted growth in October was fertilizers where production increased by 11.8 percent year-on-year.
Growth in output of refinery products slowed down to 0.4 percent in October as against 1.3 percent in the same period last year.
The eight core sectors had expanded by 4.8 percent in October 2018.
During the April-October period, the growth of core industries fell to 0.2 percent against 5.4 per cent in the year-ago period.
Output of eight core infrastructure industries had contracted by 5.1 percent in September, the lowest in the decade.