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Core sector shrinks by 9.6% in July amid graded easing of COVID-19 lockdowns

The eight core industries contracted by 9.6 per cent in July amid a gradual easing of COVID-19 lockdowns, government data released on Monday showed.

This is the fifth month of contraction in a row for the eight-core industries. However, it was an improvement over minus 12.9 percent contraction seen in the previous month. The production of eight core sectors had expanded by 2.6 per cent in July last year.

"The combined index of eight core industries stood at 119.9 in July 2020 which declined by 9.6 (provisional) per cent as compared to the index of July 2019. Its cumulative growth during April to July 2020-21 was minus 20.5 percent," said a statement issued by the Ministry of Commerce and Industry.

Coal, crude oil, natural gas recorded negative growth. The Coal and electricity declined by 5.7 percent and 2.3 percent respectively.

[source: dnaindia.com, 31/08/2020]

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