A measure of the manufacturing output of the energy sector, factories, and mines. Industrial production is significant as a short term indicator of the strength of UK industrial activity. Industry accounts for about a quarter of overall GDP. Because industrial production accounts for most of the volatility in GDP, foreknowledge of trends in manufacturing go a long way in forecasting UK output. High or rising Industrial Production figures suggest increased production and economic expansion, healthy for the Pound. However, uncontrolled levels of production and consumption can spark inflation. In times of inflation the Bank of England may raise interest rates to control growth.

Relevance: Rarely affects markets
Release Schedule: 8:30 (GMT); monthly, usually 26 working days following the reporting month's end
Revisions Schedule: Monthly revisions made to adjust for incomplete data.
Source of Report: Office for National Statistics (UK)
Web Address: http://www.statistics.gov.uk/default.asp
Address of release: http://www.statistics.gov.uk/statbase/Product.asp?vlnk=6230&More=N
AKA: Index of Production, IoP