Core sector growth: July core sector shrinks 9.6% versus 12.9% contraction in June

Economy


Amid a graded easing of lockdowns, core sector shrank at a slower speed in July than in June, according to data released on Monday.

The core sector contracted 9.6 per cent in the month of July, an improvement over the the – 12.9 per cent contraction seen a month ago.

This is the fifth month of contraction on run for the eight core industries.

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A similar trend was observed a month earlier too, with June infra growth slowing at a less rapid pace compared to May.

There was a 22 per cent slip in May. For April, the decline was 37 per cent.

The eight industries are coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity. These together have a 40 per cent weight in the Index of Industrial Production (IIP).



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