Core sector growth at 50-month low in June; 4 out of 8 sectors contract

June growth rate falls to 0.2%, from 4.3 % in May, as refinery, steel and cement production weakens

Growth in the eight core sectors of the economy collapsed to 0.2 per cent in June — a staggering 50-month low — dragged down by major contraction in the energy segment and weak performance across industries.

The data released by the commerce and industry ministry on Monday showed that coal, crude oil, natural gas, refinery products, fertiliser, steel, cement, and electricity industries saw the rate of growth take a sudden hit in June after a slight dip in May when it was 4.3 per cent. 

Four of the eight industries making up the core sectors, which contribute almost 40 per