Home Business In June 2020, eight main industries’ production dropped by 15 per cent

In June 2020, eight main industries’ production dropped by 15 per cent

by the owl speaks

Contracting for the fourth consecutive month, eight core infrastructure industries’ output shrank by 15 per cent in June due to falling coal, crude oil, natural gas, steel, cement, and electricity production.

In June 2019, the eight core sectors grew by 1.2 per cent, data released on Friday by the Ministry of Commerce and Industry showed.

All seven sectors – coal, crude oil , natural gas, refinery goods, steel , cement, and electricity – had experienced negative growth in May.

Coal, crude oil , natural gas, chemical goods, steel , cement, and electricity production decreased by 15.5%, 6%, 12%, 8.9%, 33.8%, 6.9%, and 11 % , respectively.

Output of the sector decreased by 24.6 percent during April-June 2020-21, compared to a positive growth of 3.4 percent in the same period a year earlier.

In the Industrial Production Index (IIP), these eight industries account for 40.27 per cent.

Output of the sectors contracted by 22 per cent in May.

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