Manufacturing Production Month on Month
- Location: United Kingdom
- Currency: GBP
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Manufacturing Production Month on Month shows a change in the value of goods produced in the manufacturing sector of the UK industry in the given month compared to the previous month.
Manufacturing (production of foods, pharmaceuticals, light industry, metal processing, petroleum refining, etc.) accounts for about 80% of the overall UK industrial production. The index estimates are based on turnover data received from the Monthly Business Survey (MBS) of approximately 6,000 businesses. Data on production in the mining and oil refining industries are provided by administrative sources, for example the Department for Business, Energy and Industrial Strategy (BEIS). All figures are seasonally adjusted.
The indicator is seasonally adjusted through applying a PPI based deflator. The producer price index actually measures output prices for manufactured goods. Thus, the manufacturer’s net turnover is estimated, without the impact of retailers’ mark ups.
It is one of short-term indicators of UK economy development. It is used in GDP calculation. Manufacturing industry production growth is a leading indicator of growth in consumer activity and retail sales. Therefore the indicator growth may have a positive effect on the British pound quotes.
