Core sector output shrinks 5.8% in Oct

Output of eight core infrastructure industries contracted by 5.8 per cent in October, indicating the severity of economic slowdown, according to the government data released on Friday.

As many as six of eight core industries saw a contraction in output in October.

Coal production fell steeply by 17.6 per cent, crude oil by 5.1 per cent, and natural gas by 5.7 per cent. Production of cement (- 7.7 per cent), steel (- 1.6 per cent), and electricity (- 12.4 per cent) also declined during the month.

The only sector that posted growth in October was fertilizers where production increased by 11.8 per cent year-on-year.