Core Sector Update - High Growth Numbers Must Be Read With Caution: CARE Ratings
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CARE Ratings Research Report
The Eight core sector output rose to 32-months high of 6.8% in March 2021 chiefly on account of a negative base of 8.5% in the corresponding month of the previous year.
Therefore, one needs to read the core sector growth number with caution.
The pick-up observed in March 2021 has been on account of significant double-digit growths witnessed in steel, cement, electricity and natural gas, where the production activity had seen a sharp decline in March 2020 on the back of the imposition of the nation-wide lockdown.
The contraction witnessed in the month of February 2021 has been revised upwards to down 3.8% as against the previous estimate of 4.6%.
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