The output of eight core infrastructure industries contracted by 5.8% in October, indicating the severity of economic slowdown, according to the government data released on Friday (November 29).
As many as six of the eight core industries saw a contraction in output in October. Coal production fell steeply by 17.6%, crude oil by 5.1%, and natural gas by 5.7%. Production of cement (-7.7%), steel (-1.6%), and electricity (-12.4%) also declined during the month.
The only sector that posted growth in October was fertilizers where production increased by 11.8% year-on-year.
Growth in output of refinery products slowed down to 0.4% in October as against 1.3% in the same period last year.
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The eight core sectors had expanded by 4.8% in October 2018.
During the April-October period, the growth of core industries fell to 0.2% against 5.4% in the year-ago period. The output of eight core infrastructure industries had contracted by 5.1% in September, the lowest in the decade.