Economic indices
Short Term Output Indicators
The economic indices on sectors or Short Term Output Indicators are quarterly indices showing short-term movements in the output of industries in Wales.
The aim of the indices is to inform policy makers and the public on recent trends in the economic sectors and allow comparisons of performance at the level of Wales with other devolved regions in the economy at the UK level.
Index of Production/Construction - The Welsh Indices of Production and Construction (IoP/IoC) are quarterly indices showing short-term movements in the output of production and construction industries in Wales. The separate components of the production index are weighted together using the latest available data. The data used for weighting are updated annually, with a process called chain-linking to ensure continuity within the index when updating the weights. The reference year for each of the indices is also update on an annual basis. Any figure above 100 indicates higher turnover and any figure below a contraction.
Index of Market Services -The Welsh Index of Market Services is a quarterly index showing short-term movements in the output of Welsh service sector companies. The Market Services sector comprises of the business services, distribution, transport and communication, finance and hotel and restaurants sector. Turnover of the sectors is collected and published as an index number compared to 2003 as a base year. Any figure above 100 indicates higher turnover, any figure below a contraction.
Price Indices
Other Information
Economic Indices: Methodological Review – A review of the way the Welsh Index of Production and Construction and the Welsh Index of Distribution are compiled
Please send any queries or comments by e-mail to: economic.stats@wales.gsi.gov.uk
Primary source: Office for National Statistics / Welsh Assembly Government