Manufacturing Production indicator is released by the Office for National Statistics and it shows the change in total adjusted-inflation value of output produced by manufacturers. While the UK economy is a service based economy, this is an important release as manufacturing makes up of almost 80% of the whole industrial production in the country and therefore looking at this indicator and one has a rough guess about the level of the industrial production.
The most important things to take into consideration when looking at the Manufacturing Production indicator in the UK are the following:
- Release date: monthly, 40 days after the month ends;
- Release time: 08:30 GMT during the London session;
- First tier data;
- Brings important volatility levels;
- actual > forecast = positive for currency.
- Actual < forecast = negative for currency.