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. Construction Output in India averaged 4.71 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 2.50 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.