It includes the output of the manufacturing sector (manufacturing output), and also takes into account manufacturing in sectors such like mining and processing of minerals, and utilities. It is an indicator of economic growth.
High or rising figures indicate the economic development and strengthening of the Pound. However, the uncontrolled level of production and consumption can lead to inflation. In the case of inflation, the Bank of England can raise interest rates to control growth.
The indicator is not decisive for the direction of economic development, as more than 60% of the gross domestic product is currently provided by the service sector. It is taken into account by the market.