National Statistics Online - Articles - The impact of redeveloping the Index of Production
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The impact of redeveloping the Index of Production
The article describes how the IoP computer system has been re-developed and explains some of the system changes and methodological enhancements which have been made.
The Index of Production computer system has been updated, with some changes made to the methodology and compilation method. This has affected growth back to 1994. Results from the new system will be published as part of the September 2003 Blue Book dataset and when the new system replaces the existing IoP system in October 2003. This article outlines the system changes and the methodological enhancements and discusses their impact on the IoP.
The main methodological enhancements are chain-linking, splining of quarterly inventories data, smoothing and producing current price inventories adjusted indices for the first time. There is more growth in the new IoP than the existing IoP due to these changes but the new series will not be published until September 2003.
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