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Impact of methodological changes to the Index of Production
Describes the above, resulting from concerns about quality of many detailed estimates and a wider reprioritisation of ONS’s business
Authors: Chris Hunt, Andrew Walton, Robin Youll
Economic & Labour Market Review, vol 2, no 6, pp 43. ISSN: 1751-8334
The Index of Production (IoP) published on 10 March 2008 was based on improved methods, as described in an article published in the January 2008 edition of Economic & Labour Market Review (ELMR). These methodological changes were made primarily in response to concerns in the Office for National Statistics (ONS) about the quality of many of the very detailed published seasonally adjusted estimates. The change was also a response to a wider reprioritisation of ONS’s business, which led to a 20 per cent reduction in the number of businesses sampled in the Monthly Production Inquiry, as used in the IoP. This article describes the impact of these methodological changes on the published results.
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