Eight Core Industries’ Output Contracts 2.5% In October
Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Eight Core Industries’ Output Contracts 2.5% In October

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Contracting for the eighth consecutive month, the output of eight core infrastructure sectors dropped by 2.5% 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% in October 2019, data released by the Commerce and Industry Ministry showed on Friday.

Also read: India Plunges Into Technical Recession As GDP Contracts 7.5% In Q2FY21

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% as compared to a growth of 0.3% in the same period of the previous year.

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