Core Sector - Contraction rate decelerates in May
By TIOL News Service
NEW DELHI, JULY 01, 2020: THE growth rate of Index of Eight Core Industries for May 2020 declined by 23.4% (provisional) compared to decline of 37 percent (provisional) in previous month of April 2020. Its cumulative growth during April to May, 2020-21 was -30.0 per cent.
In view of nationwide lockdownduring April & May 2020 due to COVID-19 pandemic, various industries viz. Coal, Cement, Steel, Natural Gas, Refinery, Crude Oil etc. experienced substantial loss of production.
Final growth rate of Index of Eight Core Industries for February 2020 is revised at 6.4%. The Eight Core Industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Monthly growth rates of Index of Eight Core Industries (Overall) are depicted in the graph:
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