Infrastructure production in India rose 5.1 percent year-on-year in May 2019, slowing from an upwardly revised a 6.3 percent gain in the previous month. Output growth eased for coal (1.8 percent compared to 3.2 percent in April) and production dropped for refinery products (-1.5 percent compared to 4.3 percent). Also, crude oil production declined further (-6.9 percent compared to -6.7 percent). On the other hand, output went up at a faster pace for electricity (7.2 percent compared to 5.9 percent); steel (19.9 percent compared to 19 percent); and cement (2.8 percent compared to 2.3 percent). Additionally, production of fertilizers fell less (-1 percent compared to -4.4 percent); and natural gas output was flat after dropping 0.8 percent in April. 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.