Industrial production definition
Industrial production
Industrial production is a measure of the output of the industrial sector of an economy. The industrial sector includes manufacturing, mining, utilities (like gas and electricity) and, at times, construction output.
Industrial production is calculated over a period by recording the change in the volume of output produced.
The index of production explained
The index of production (IoP) is published each month in the UK by the Office of National Statistics. It is a monthly economic index evaluating the total output in the manufacturing, mining, energy, water and waste management sectors.