Core sector output shrinks for fifth straight month in July, down 9.6%

Infra segment, refinery product impacted the most, even as contraction narrows in latest month

The fall in the output of the eight core sectors of the economy further slowed in July as the economy reopened, but the year-on-year decline was still 9.6 per cent as industry battled demand slump, an acute liquidity crisis and labour shortages in the aftermath of the nationwide lockdown. In June, the core sector output had plunged 12.9 per cent.

Pace of contraction had reduced during the previous three months after crashing by 36 per cent in April. However, the updated figures released by the Commerce and Industry Ministry on Monday showed seven of the eight core sectors continued to