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
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.
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.
