Core sector contracts 0.6% in October

The crucial infrastructure sector showed signs of weakness in October dragged down by a decline in coal, crude oil natural gas and refinery products output.
Official data showed growth in the eight key infrastructure sectors fell 0.6% in October compared to 7.8% expansion in the year earlier period and 8% growth in the previous month. The September growth was the fastest expansion in the sector in nearly a year and prompted policymakers to predict a rebound in the industrial sector.
The sector accounts for 37.9% of the index of industrial production and could impact the data for the sector due later this month. A sharp rebound in the core sector output in September had helped industrial output stage a recovery, expanding 2% year-on-year during the month.
Coal production declined 3.9 % in October this year over October last year. Crude production fell 0.8 % in October compared to a decline of 0.4% in the same month last year. Natural gas production declined 13.6 % in October, while petroleum refinery production fell 4.8 % during the month compared a growth of 46.3% in October 2012.

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