India's infrastructure output rises 5% y/y in June under new series

NEW DELHI: India’s infrastructure output grew 5% year-on-year in June, its fastest pace in five months, according to the first data released under a revised series with 2022-23 as the base year, as strong iron ore and electricity output offset weakness in energy-related sectors.

The new series, released on Monday by the government, replaces the 2011-12 base year and expands the core sector basket to nine industries from eight, including iron ore.

Infrastructure output had grown a revised 3.2% in May from a year earlier, according to comparable data released by the government. It last grew at a faster pace of 5.2% in January under the revised series.

Cement output rose 9.8% in June from a revised 8.4% increase in May.

Steel production increased by 4.6% last month, compared to a revised 5.1% growth in May.

Electricity generation rose 9.8% in June, as compared to a revised 11.2% increase in May.

Coal production rose 1.4% in June, compared to a revised fall of 9.5% the prior month.

Iron ore production rose 43.9% in June, compared to a revised rise of 19% in May.

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Crude oil output fell 4.2% in June, unchanged from the revised decline posted in May.

Fertiliser production declined 3.3% in June, following a revised 1% contraction in the previous month.

Natural gas production shrank 7.4% in June, as compared to a revised drop of 5% in May.

Refinery products output fell 4.7% in June versus a revised 8.2% fall a month earlier.

The cumulative infrastructure output growth for April-June increased year-on-year at 3.6% from a revised 1% in the corresponding period last year.