India's infrastructure output increased by 3.5 percent from a year earlier in November 2018, easing from a 4.8 percent expansion in the previous month. It was the smallest gain in infrastructure output since July 2017 as production growth slowed for electricity (5.4 percent vs 10.9 percent in October), coal (3.7 percent vs 11.3 percent) and cement (8.8 percent vs 18.4 percent). At the same time, there were declines in output of both crude oil (-3.5 percent vs -5 percent) and fertilizers (-8.1 percent vs -11.5 percent). Meanwhile, growth accelerated for refinery products (2.3 percent vs 1.3 percent) and steel (6 percent vs 2.6 percent), and natural gas production rebounded after two consecutive months of contraction (0.5 percent vs -0.9 percent). Construction Output in India averaged 4.79 percent from 2005 until 2018, 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 4.50 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 5.02 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.