Eight Core Industries' Output Inches Up In June
Eight core infrastructure industries saw a modest recovery in June after a decline in the preceding month as localised restrictions eased across states.
The index of eight core industries rose 1.1% in June over the previous month, according to data released by the government on Friday. The index had contracted 4.2% month-on-month in May.
Compared to a year ago, output across these industries was higher by 8.9% in June compared to 16.3% in May, the data showed.
"As expected, the waning of the favourable base effect outweighed the impact of the lifting of state restrictions, causing the core sector growth to halve to 8.9% in June 2021 from 16.3% in May," Aditi Nayar, chief economist at ICRA, said.
Coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity count among the core sectors, comprising 40% of the Index of Industrial Production.
Break-Up Across Eight Core Sectors (Month-On-Month)
Coal output contracted 4.3% in June.
Crude oil output rose 1.8%.
Natural gas output increased 2%.
Refinery products declined 3.8%.
Fertiliser production inched up 14%.
Steel output firmed up 2.1%.
Cement output rose 13.1%.
Electricity output fell 4%.