31st October 2020

Confidant Classes

A Premier Judicial Service Coaching

June 2020 output of core industries

Output from eight core sector industries fell for the fourth consecutive month in June 2020, although the contraction decreased to 15%, showing some recovery from the 22% drop in May, according to data released Friday by the Commerce Department. Economists expect the negative trend to continue for at least two more months.

  • In April-June 2020-21, the sector’s production fell 24.6% compared to a positive growth of 3.4% in the same period of the previous year.
  • Among the eight key sectors, the fertilizer industry was the only one to experience real growth in June, with production up to 4.2% since June 2019. This, however, is less than the 7.5% growth in May 2020, but reflects prospects in the agricultural sector where a normal monsoon leads to expectations of an excellent kharif harvest.
  • Other industries registered a contraction, with the steel sector as the worst, with a 33% drop in production the previous year.
  • Cement production fell almost 7%, despite a 22% improvement in contraction seen in May.
  • The energy sectors also registered negative growth, with coal production of 15.5% and crude oil and natural gas production of 6% and 12% respectively.
  • Oil refinery output, which weighs the highest in the central sector index, contracted by almost 9%, while electricity production fell 11%.

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