Output of 8 core industries contracts 5% in Sep, may hurt Q2 GDP growth

Gross domestic product grew by more than a six-year low of 5 per cent in the first quarter

The output of the core sector fell a record 5.2 per cent in September, with production by seven of the eight industries declining, portending slow economic growth in the second quarter of this fiscal year too. In September 2018, it had risen 4.3 per cent, and 0.1 per cent in August 2019. Data by the commerce and industry ministry showed production in coal, crude oil, natural gas, refinery products, steel, cement, and electricity declined in September. Coal contracted the steepest by 20.5 per cent. Only fertiliser held out.

Economists said contraction at this rate has not been witnessed in either