Eight core industries' output contracts 2.6% in November

Representational image.

Contracting for the ninth consecutive month, the output of eight core infrastructure sectors dropped by 2.6 per cent in November, mainly due to decline in production of natural gas, refinery products, steel and cement.

The production of eight core sectors had recorded a growth of 0.7 per cent in November 2019, data released by the commerce and industry ministry showed on Thursday.

Barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.

During April-November, the sectors' output dropped by 11.4 per cent as compared to a growth of 0.3 per cent in the same period of the previous year.

The output of crude oil, natural gas, refinery products, steel and cement declined by (-)4.9 per cent, (-)9.3 per cent, (-)4.8 per cent, (-)4.4 per cent, and (-)7.1 per cent, respectively, in November this year.

On the other hand, coal and electricity sector output grew by 2.9 per cent and 2.2 per cent during the month under review.

Fertiliser sector growth stood at 1.6 per cent as against 13.6 per cent in the same month last year.

The eight core industries account for 40.27 per cent of the IIP.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel