Infrastructure output in India increased 2.6 percent year-on-year in April 2019, easing from an upwardly revised 4.9 percent rise in the previous month. Production went up at a softer pace for coal (2.8 percent compared to 9.1 percent in March); steel (1.5 percent compared to 6.7 percent); and cement (0.8 percent compared to 15.7 percent). Additionally, output fell for natural gas (-0.8 percent compared to 1.4 percent) and fertilizers (-4.4 percent compared to 4.3 percent). Also, crude oil production dropped further (-6.9 percent compared to -6.2 percent). On the other hand, output increased faster for electricity (5.8 percent compared to 2.1 percent) while refinery products advanced at the same pace as in March (at 4.3 percent). Construction Output in India averaged 4.73 percent from 2005 until 2019, reaching an all time high of 11.66 percent in January of 2010 and a record low of -1 percent in October of 2013.
Construction Output in India is expected to be 4.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Construction Output in India to stand at 3.50 in 12 months time. In the long-term, the India Infrastructure Output is projected to trend around 3.00 percent in 2020, according to our econometric models.