Manufacturing Production y/y shows a change in the value of goods produced in the manufacturing sector of the UK industry in the given month compared to the same month of the previous year.
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.
The chart of the entire available history of the "United Kingdom Manufacturing Production y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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