Core sector output contracts by 5.2 pc in Sep against 4.3 pc growth y-o-y
New Delhi [India]: The eight core industries recorded 5.2 per cent decline in September year-on-year, mirroring further slowdown in the economy, according to government data released on Oct 31,Thursday.
The index was dragged down by coal mining which came in at minus 20.5 per cent. The figures for the same month last year stood at 4.3 per cent. The cumulative growth during the period of April to September 2019-20 was 1.3 per cent. These eight core industries represent more than 40 per cent of the total index of industrial production (IIP).
“The combined index of eight core industries stood at 120.6 in September 2019, which declined by 5.2 per cent as compared to the index of September 2018. Its cumulative growth during April to September was 1.3 per cent,” said a statement released by the Ministry of Commerce and Industry.
Coal production declined by 20.5 per cent in September as against the same month of last year while crude oil production dipped by 5.4 per cent. Production of natural gas fell 4.9 per cent. Its cumulative index declined by 2 per cent during April to September over the corresponding period of the previous year.
Petroleum refinery products fell by 6.7 per cent but the fertiliser production rose by 5.4 per cent while its cumulative index was up 1.1 per cent in the given month. Steel production in the country declined by 0.3 per cent while production of cement fell by 2.1 per cent.
At the same time, electricity generation declined by 3.7 per cent but its cumulative index increased by 3.6 per cent during April to September over the corresponding period of previous year.