India's infrastructure output growth slows to five-month low in February

NEW DELHI (Reuters) -India's infrastructure output grew 2.9% on-year in February, its slowest pace in five months as the decline in oil and natural gas production accelerated sharply, government data showed on Friday.

Infrastructure output, which tracks activity across eight sectors and makes up 40% of the country's industrial production, grew at a revised 5.1% in January, compared to the initial estimate of 4.6%.

Infrastructure output last increased at a slower pace, of 2.4%, in September last year.

Crude oil output dropped 5.2% year-on-year in February, much steeper than the 1.1% drop in January, while natural gas production declined 6%, compared with a 1.5% drop in January.

Electricity generation was up 2.8% in February, against a revised 2.4% increase in the prior month, while refined oil products grew 0.8%, compared with 8.3% growth the month before.

Meanwhile, cement output rose 10.5% in February, compared to a revised 14.6% increase in January, while steel production climbed 5.6% against a revised 4.7% advance a month earlier.

Coal production gained 1.7% year-on-year compared to a 4.6% rise in January, while fertilizer production grew 10.2% compared with 3% in the prior month.

Infrastructure output rose 4.4% in April-February, compared to a 7.8% increase in the year-ago period.

(Reporting by Shivangi Acharya in New Delhi; Editing by Janane Venkatraman and Savio D'Souza)

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