The British Confederation controls a significant part of the industrial sector enterprises, being the largest business group in the state. Working with the collection and calculation of statistics is one of the main priorities of this non-profit partnership.
The economic survey in the industrial sector is a detailed report on the current state of affairs in the national economy, including surveys of business leaders about the state of affairs in the company relative to last year.
The published review, as a list of issues, concerns the cost of raw materials, qualifications and needs for specialists, wages, the volume of orders and their actual execution, the remaining goods in warehouses, stocks, etc. relative to the previous year.
The report represents the final, average percentage figures obtained during the survey of managers of specialized enterprises. They are collected monthly by the 13 regional councils of the Confederation and sent to the head office for processing.
Frequency and format of the economic review output
The review is published in the form of an analytical report with the conclusions of economists, confirmed by statistics, and is published monthly on the website of the Confederation of British Industrialists on the 28-30 number.
The time of the output is 11-00 GMT/14-00 Moscow time.
The impact of statistics on the stock market and Forex currencies
The industrial sector brings the main income to the UK budget, so the positive dynamics of the figures directly correlates with GDP. But the peculiarity of the annual calculation is of the indicator makes it lagging, so it is not directly used by bidders.
Forex traders rarely take into account data in positions on the pound sterling, since at the end of the month there is a part of more significant indicators for the foreign exchange market. Investors accept the indicator as an additional filter that confirms previously occupied positions in shares of industrial enterprises.
Interesting facts
The reports of the British Confederation of Industrialists go beyond the UK. In addition to 13 offices within the Kingdom, the union monitors and analyzes economic sentiment in China, the United States, India and the European Union, through offices that are open there.
After Brexit, the members of the Confederation have high hopes for the office in Brussels, whose task is to preserve trade relations with the European Union as much as possible after 2019, when the UK leaves the EU.