On Monday, the government released data on the Index of Eight Core Industries for the month of July, which shrank at a slower pace than in June, as the country started unlocking economic activities amid the coronavirus pandemic. The combined index stood at 119.9 in July, which is a 9.6 percent year-on-year decline when compared to 12.9 percent contraction seen in the month before.
The cumulative growth for the financial year so far, that is from April to July 2020 was -20.5 percent.
The Eight Core Industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
- Coal production declined by 5.7 percent in July 2020 over July 2019.
- Crude Oil production declined by 4.9 percent from July 2019.
- Natural Gas production slipped by 10.2 percent in July from the same month a year ago.
- Petroleum Refinery production fell by 13.9 percent on a year-on-year basis.
- Fertilizers production was down by 6.9 percent in July 2020.
- Steel production declined by 16.4 percent in July from a year ago.
- Cement production fell 13.5 percent from the same month last year.
- Electricity generation slipped 2.3 percent in July 2020.