Core sector output growth slows to 20-month low of 0.1% in October

Growth in production by eight infrastructure industries, which comprise the core sector, slowed down sharply to a 20-month low of 0.1 per cent in October, owing to a high base effect and weak activity. Crude oil, natural gas, refinery products, and cement registered a contraction, while the power industry witnessed marginal growth. The corresponding last year figure was 8.7 per cent.

The October number is the lowest since February 2021 when there was a contraction of -3.3 per cent. In September this year, core sector output growth was 7.8 per cent.

Data released by the industry department on Wednesday showed sequential deceleration in output growth in sectors like coal (3.6 per cent), steel (4 per cent), electricity (0.4 per cent) and fertilisers