India - Output Pembinaan

India's infrastructure output declined 5.8 percent year-on-year in October of 2019, following a downwarly revised 5.1 percent drop in the previous month. It is the biggest annual fall in infrastructure output since at least 2005. Further declines were seen in production of electricity (-12.4 percent vs -2.6 percent in September); steel (-1.6 percent vs -1.5 percent); cement (-7.7 percent vs -2 percent); and natural gas (-5.7 percent vs -4.9 percent). Also, both coal (-17.6 percent vs -20.5 percent) and crude oil (-5.1 percent vs -5.4 percent) continued to fall. On the other hand, the output for refinery products rebounded (0.4 percent vs -6.6 percent) and production increased faster for fertilisers (11.8 percent vs 5.4 percent). Considering the period April-October 2019, infrastructure output rose 0.2 percent, well below 5.4 percent a year earlier.

India's infrastructure output declined 5.2 percent from a year earlier to September 2019, the first month of contraction since April 2015, following an upwardly revised 0.1 percent rise in the previous month. Output went down further for coal (-20.5 percent vs -8.6 percent in August); natural gas (-4.9 percent vs -3.9 percent); and electricity (-3.7 percent vs -0.9 percent). Additionally, production dropped for petroleum refinery products (-6.7 percent vs 2.6 percent) and steel (-0.3 percent vs 5.1 percent); and crude oil output continued to fall (-5.4 percent, the same as in August). On the other hand, output rose at a faster pace for fertilizers (5.4 percent vs 2.9 percent) and decreased less for cement (-2.1 percent vs -5.1 percent).

India's infrastructure output dropped 0.5 percent from a year earlier in August 2019, the first month of contraction since April 2015, following an upwardly revised 2.7 percent growth in July. Output fell for coal (-8.6 percent vs -1.6 percent), crude oil (-5.4 percent vs -4.4 percent), natural gas (-3.9 percent vs -0.5 percent), cement (-4.9 percent vs 7.9 percent), and electricity (-2.9 percent vs 4.7 percent). By contrast, there were increases in petroleum refinery products (2.6 percent vs -0.9 percent), fertilizers (2.9 percent vs 1.5 percent), and steel (5 percent vs 8.9 percent).

India's infrastructure output growth picked up to 2.1 percent year-on-year in July 2019 from an upwardly revised 0.7 percent in the previous month, boosted by electricity (4.2 percent vs 8.1 percent in June); steel (6.6 percent vs 8.4 percent); cement (7.9 percent vs -1.7 percent); and fertilizers (1.5 percent, the same as in June). In contrast, output declines were recorded for refinery products (-0.9 percent vs -9.3 percent); coal (-1.4 percent vs 3.2 percent); crude oil (-4.4 percent vs -6.8 percent); and natural gas (-0.5 percent vs -2.1 percent). Considering April to July 2019-20, infrastructure output growth eased to 3 percent from 5.9 percent in the same period of the previous fiscal year.

India's infrastructure output grew 0.2 percent from a year earlier in June 2019, the least since November 2015, mainly due to a slump in production of refinery products (-9.3 percent vs -1.5 percent in May), crude oil (-6.8 percent vs -6.9 percent), natural gas (-2.1 percent vs unchanged), and cement (-1.5 percent vs 2.8 percent). By contrast, output grew for electricity (7.3 percent vs 7.4 percent), steel (6.9 percent vs 15.3 percent), coal (3.2 percent vs 1.9 percent), and fertilizers (1.5 percent vs -1.0 percent).

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.