India's infrastructure output flat in October, weakest in 14 months

NEW DELHI (Reuters) -India’s infrastructure output was unchanged in October from a year earlier, its weakest performance in 14 months, as declines in coal, crude oil and electricity production offset gains in steel and refinery products, government data showed on Thursday.

The index, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at a revised 3.3% in September.

India’s infrastructure output contracted 1.5% year-on-year in August 2024.

Excess rainfall impacted mining activity and power demand in October, while steel output decelerated sharply, said Aditi Nayar, an economist at ICRA.

Given the contraction in the mining and electricity segments, the industrial output growth in October is expected to ease to 2.5%-3.5% from 4% in the previous month, she said.

India's industrial output data will be released on November 28.

KEY NUMBERS

* Crude oil output fell 1.2% year-on-year in October against a drop of 1.3% in September.

* Natural gas production declined 5% year-on-year in October as compared to a 3.8% fall in the previous month.

* Cement output rose 5.3% year-on-year in October after a revised 5% increase in September.

* Steel production grew 6.7% year-on-year in October after a revised increase of 14.4% in September.

* Fertiliser production increased 7.4% year-on-year in October versus 1.6% rise in the previous month.

* Coal production fell 8.5% year-on-year in October as compared to a drop of 1.2% in September.

* Electricity generation declined 7.6% in October year-on-year versus a revised growth of 3.1% in September.

* Refinery products output increased 4.6% in October year-on-year as compared to a decline of 3.7% in September.

* Infrastructure output rose 2.5% year-on-year in April-October against a revised growth of 4.3% a year ago.

(Reporting by Sarita Chaganti Singh & Manoj Kumar; Editing by Sonia Cheema)

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