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Growth successful enactment successful India’s 8 halfway concern sectors slowed to 0.5% successful May 2026, the second-lowest successful 21 months, authoritative information showed.
Also work | Alarm bells: connected the Index of Eight Core Industries data
The information connected the Index of Eight Core Industries released by the Ministry of Commerce and Industry connected Monday (June 22, 2026) showed that 5 retired of 8 sectors contracted successful May 2026. Apart from electricity, the sectors that saw maturation besides slowed from erstwhile months.
The lone period successful the past 21 months to person registered slower halfway assemblage maturation was October 2025, erstwhile the scale contracted 0.1%.
“Core assemblage maturation successful May was disappointing astatine 0.5% compared with 1.2% past year,” Madan Sabnavis, main economist astatine the Bank of Baroda, said. “The little maturation fig connected a debased basal tin beryllium attributed much to the diminution successful accumulation from the petroleum-based sector.”
The crude lipid assemblage contracted 4.6% successful May, a worse show than the contraction of 3.9% successful April and of 1.8% successful May past year. Similarly, the earthy state assemblage contracted 4.9% successful May 2026, its worst show successful 4 months.
The refinery products assemblage contracted by 8.7% successful May, its worst show successful 3.5 years. According to Rahul Agrawal, Principal Economist astatine ICRA, this “partly reflects the fallout of the West Asia crisis”.
The ember sector, too, contracted by 9.3% — the worst successful 10 months.
“Crude oil, earthy gas, and refinery products each registered diminution successful production,” Mr. Sabnavis said. “This tin beryllium attributed much to higher import of crude and softening of prices successful the planetary market.
“In the lawsuit of earthy gas, with proviso chains being addressed, home accumulation tended to fall,” helium added. “Lower exports of petro products besides contributed to diminution successful production.”
The fertiliser assemblage contracted for the 3rd consecutive period successful May 2026, by 0.9%. This was, however, a stronger show than the contraction of 8.6% successful April and of 24.6% successful March.
The steel, cement, and energy sectors were the lone ones that registered maturation successful May 2026. Of these, the energy assemblage saw maturation accelerate to 8.7%, albeit connected a debased basal since the assemblage had contracted by 4.7% successful May past year.
The alloy assemblage saw maturation slowing to a 16-month debased of 5% successful May 2026, portion the cement assemblage slowed to a maturation of 8.4% from 9.4% successful April.
