industrial production

manufacturing, large scale factory production

An economic report that measures changes in output for the industrial sector of the economy. The industrial sector includes manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP (Gross Domestic Product), they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. Industrial Production figures are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapid inflation.
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A statistic determined by the Federal Reserve Board focusing on the total output of all U.S. factories and mines on a monthly basis. Used as an economic indicator .

Total output of UK factories; a key economic indicator.