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Core industry output contracts for third month

Part of: GS Prelims and Mains III – Indian Economy and related issues; Growth and Development

In news:

The output of eight core sector industries shrank 23% in May 2020.
Of the eight core sectors, the fertilizer industry was the only one which saw actual growth in output in May month compare to May 2019.
Steel sector performance was the worst, which recorded a 48.4% fall, while cement production dropped 22%.
Good monsoon and kharif sowing season – led to some growth in the fertilizer sector.

Key prelims pointers:

The eight core sector industries are coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity.

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