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The domestic mining and construction equipment (MCE) sector is likely to see a volume decline of over 20 per cent in calendar year (CY) 2020 on account of loss of sales in April and May, and an overall weakness in the economy, Icra said on Tuesday.
The domestic credit rating agency said it continues to maintain negative outlook for the domestic MCE sector based on the prevailing overall scenario.
"The MCE industry is expected to suffer a volume decline of over 20 per cent in CY2020, due to two months of lost sales and an overall weakness in the economy," Icra said
