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India infrastructure output rises 5% year-on-year in June
The June increase marked the fastest growth in five months, led by sharp gains in iron ore and electricity output despite declines in energy related production.
India’s infrastructure output grew 5.0% year-on-year in June, the fastest pace in five months, according to the first government data released under a revised series that uses 2022-23 as the base year, replacing the prior 2011-12 base. Reuters reports the update also expands the core sector basket to nine industries from eight, including iron ore.
In June, iron ore production rose 43.9% year-on-year and electricity generation increased 9.8%. Those gains offset weakness across several energy-related areas, with crude oil output down 4.2%, natural gas production down 7.4%, and refinery products output down 4.7%.
Reuters also cited mixed performance across other components, including steel production up 4.6%, coal production up 1.4%, and fertiliser production down 3.3%. On a broader basis, cumulative infrastructure output growth for April through June rose 3.6% year-on-year, versus a revised 1.0% in the same period last year.
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