Inde Sortie de constructions

The infrastructure output in India was unchanged from the previous year in October of 2025, holding the upwardly revised 3.3% increase in the previous month. It was the first period without expansion in 14 months, reflecting some pressure from the aggressive tariffs on India passed by the US which drove multiple businesses to announce cuts in capacity. Output fell sharply for coal (-8.5% vs -1.2% in September), crude oil (-1.2% vs -1.3%), natural gas (-5% vs -3.8%), and electricity (-7.6% vs 3.1%) to underscore the sensitivity of macroeconomic headwinds on energy markets. In the meantime, output continued to grow for fertilizers (7.4% vs 1.6%), steel (6.7% vs 14.4%), and cement (5.3% vs 5%) amid some resilience of non-energy sectors.