Economy

Core sector output shrank 1.5% in November

Labourers push a cart loaded with steel rods in Mumbai. File

Labourers push a cart loaded with steel rods in Mumbai. File   | Photo Credit: AFP

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The output of coal, crude oil, natural gas, steel, and electricity declined by 2.5%, 6%, 6.4%, 3.7% and 5.7% respectively, according to the data.

Showing no signs of improvement, the output of eight core infrastructure industries contracted for the fourth consecutive month in November by 1.5%, according to official data released on Tuesday. Since August, these industries are recording negative growth.

The output of coal, crude oil, natural gas, steel, and electricity declined by 2.5%, 6%, 6.4%, 3.7% and 5.7% respectively, according to the data.

The core sectors had expanded by 3.3% in November 2018. The growth of cement production dropped to 4.1% from 8.8% in November 2018. The output of refinery products and fertilizer increased by 3.1% and 13.6% respectively in November 2019.

During the April-November period, the core industries recorded flat growth (zero%) against 5.1% in the year-ago period.

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Printable version | Jan 21, 2020 5:01:22 AM | https://www.thehindu.com/business/Economy/core-sector-output-shrank-15-in-november/article30446521.ece

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