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India’s core sector growth contracts 1.5% in November: Govt data

Contracting for the fourth consecutive month, the output of eight core infrastructure industries shrank by 1.5 per cent in November 2019 as five of the eight sectors witnessed negative growth, according to official data released on Tuesday.

The eight core sectors had expanded by 3.3 per cent in November 2018.

Production of coal, crude oil, natural gas, steel, and electricity contracted in the month under review.

The growth rate of cement production dropped to 4.1 per cent from 8.8 per cent in November 2018.

The output of refinery products and fertilizers increased by 3.1 per cent and 13.6 per cent respectively in November 2019 over the year-ago month.

During the April-November period, core industries recorded flat growth (zero per cent) against 5.1 per cent in the year-ago period.

Since August the eight core sectors are recording negative growth.

Source: Business Standard