The Core Sector, Month by Month

How to read this. The Index of Core Industries measures the output of nine infrastructure sectors on base 2022–23 = 100 — the Office of the Economic Adviser's new series, first released on 20 July 2026, which adds iron ore and replaces the old eight-industry 2011–12 series. The headline is their weighted average — Electricity (30.9%), Refinery Products (22.6%) and Steel (17.6%) carry the most weight, Fertilizers (2.7%) the least. Series break: the Base year switch brings back the retired 2011–12 series (eight industries, April 2011 to May 2026). Index levels are not comparable across the two bases, and growth for the same month differs because weights and coverage changed — May 2026 is +3.2% on the new base, +0.5% (provisional) on the old. On the new base this page carries OEA's printed monthly figures from June 2025; the April 2023–May 2025 back series is published only as a spreadsheet and is left blank rather than estimated. "Growth" here is the year-on-year change (on the new base, exactly as OEA prints it); because the index is not seasonally adjusted, raw month-to-month swings (March is always a year-end production peak) are best read year-on-year. The latest month is provisional and shown dashed — recent months are revised in later releases.