UK National Statistics will report the MoM Manufacturing Production figure on Wednesday, August 6, 2014 at 8:30 AM GMT which will be the only key announcement for the day in terms of volatility. The figure’s announcement and historical data is provided below.
|MoM Manufacturing Production||8:30 AM||0.6%||-1.3%|
The Manufacturing Production figure essentially measures the output of the manufacturing industry and is adjusted for inflation so that it measures real output. It represents about 80% of total Industrial Production which is also announced alongside this figure. YoY Manufacturing Production has been rising as outlined in the first graph which is also demonstrated by the persisting figures in YoY Industrial Production. The forecast for MoM Industrial Production is the same as the forecast for MoM Manufacturing Production at 0.6%.
The recent long term trends (as displayed in the year charts) provides positive feedback on the UK economy as it provides a leading view on inflation since prices in this sector are the first to be affected. And being adjusted for inflation offers a comparable outlook in terms of real output for the economy. The manufacturing sector of the UK economy, however, doesn’t represent a significant percentage of its total output.