Eight core industries output declines 30% in April to May 2020-21
The output of Eight Core Industries declined at slower pace of 23.4% in May 2020 compared with 37% (provisional) dip in previous month of April 2020. Its cumulative growth during April to May 2020-21 was 30.0%.In view of nationwide lockdown during 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% of the weight of items included in the Index of Industrial Production (IIP).
Coal production (weight: 10.33%) declined by 14.0% in May 2020 over May 2019. Its cumulative index declined by 14.7% during April to May 2020-21over corresponding period of the previous year.
Crude Oil-Crude Oil production (weight: 8.98%) declined by 7.1% in May 2020 over May 2019. Its cumulative index declined by 6.7% during April to May 2020-21 over the corresponding period of previous year.
The Natural Gas production (weight: 6.88%) declinedby16.8% in May 2020 over May 2019. Its cumulative index declined by 18.3% during April to May 2020-21 over the corresponding period of previous year.
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Petroleum Refinery production (weight: 28.04%) declined by 21.3% in May 2020 over May 2019. Its cumulative index declined by 22.7% during April to May 2020-21over the corresponding period of previous year.
Fertilizers production (weight: 2.63%) increased by 7.5% in May 2020 over May 2019. Its cumulative index increased by 2.0% during April to May 2020-21 over the corresponding period of previous year.
Steel production (weight: 17.92%) declined by 48.4% in May 2020 over May 2019. Its cumulative index declined by 63.3% during April to May 2020-21 over the corresponding period of previous year.
Cement production (weight: 5.37%) declined by 22.2% in May 2020 over May 2019. Its cumulative index declined by 54.1% during April to May 2020-21 over the corresponding period of previous year.
Electricity generation (weight: 19.85%) declined by 15.6% in May 2020 over May 2019. Its cumulative index declined by 19.1% during April to May 2020-21 over the corresponding period of previous year.
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